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ManpowerGroup Reports 2nd Quarter and First Half 2011 Results

ManpowerGroup Reports 2nd Quarter and First Half 2011 Results

 ManpowerGroup (NYSE: MAN) today reported that net earnings per diluted share for the three months ended June 30, 2011 were 87 cents compared to 40 cents in the prior year period. Net earnings in the quarter were $72.7 million compared to $32.7 million a year earlier. Revenues for the second quarter were $5.7 billion, an increase of 24 percent from the year earlier period, or an increase of 12 percent in constant currency.

Net earnings in the second quarter were favorably impacted by 11 cents per diluted share, as foreign currencies were relatively stronger compared to the prior year period.

ManpowerGroup Chairman and CEO Jeffrey A. Joerres, said, "We continued to drive solid revenue growth with all geographies participating Mexico, France and Italy all grew in excess of 15 percent in constant currency. Our emerging markets grew in excess of that. Experis, our professional resourcing brand, performed well, with global revenue increasing 12 percent in constant currency. These solid revenue gains clearly contributed to very good operational leverage. In the latter part of June certain markets experienced softening, however, we continue to be optimistic that we will achieve good year-over-year growth.

"We are anticipating the third quarter of 2011 diluted earnings per share to be in the range of 90 cents to $1.00, which includes an estimated favorable currency impact of 10 cents," Joerres stated.

Earnings per diluted share for the six months ended June 30, 2011 were $1.30 compared to 44 cents per diluted share in 2010. Net earnings were $108.4 million compared to $35.5 million in the prior year. Revenues for the six-month period were $10.7 billion, an increase of 24 percent from the prior year or 17 percent in constant currency. Foreign currency exchange rates had a favorable impact of 14 cents for the six-month period.

In conjunction with its second quarter earnings release, ManpowerGroup will broadcast its conference call live over the Internet on July 21, 2011 at 7:30 a.m. CDT (8:30 a.m. EDT). Interested parties are invited to listen to the webcast and view the presentation by logging on to http://www.manpowergroup.com/investors.

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