May 13, 2010 – Kelly Services, Inc./(NASDAQ:KELY), a global provider of workforce solutions, has posted revenue for the first quarter of 2010 of $1.1 billion, an eight percent increase compared to the corresponding quarter in 2008. Losses from operations for the quarter totaled $1.6 million, compared to losses of $30.6 million reported for the first quarter of 2009. “After many months, we were pleased to see the economy pick up and note positive trends in our business,” said Carl T. Camden, president and CEO. “Combined with our ongoing focus on cost control, those factors helped us return to profitability in what has typically been a weak quarter for our industry.” In a separate announcement, Kelly Services has formed a partnership with Temp Holdings Co., Ltd. to strengthen their competitive positions in the global staffing market. Temp Holdings, an integrated HR services company in Japan, has purchased from Kelly 1,576,169 shares of Kelly's Class A common stock, representing 4.8 percent of the outstanding Class A shares. The shares were purchased from Kelly in a private transaction at a price per share equal to the average of $15.42 of Kelly's Class A shares for the week ending May 7, 2010. Kelly purchased an equity interest in Tempstaff in February of 2005 and, with this transaction, continues to hold shares in Temp Holdings. “This relationship strengthens Kelly's global presence in key Asian markets, which remains a central component of our strategic growth plan, while allowing both companies to leverage one another's business relationships and expertise,” said Mr. Camden. Temp Holdings Toshio Saburi will also be named to the board of directors of Kelly Services. Mr. Saburi currently serves as executive director and as a director of Temp Holdings.
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