Kelly Services Q1 Net Profit Down - Quick Facts

(RTTNews) - Kelly Services, Inc. (KELYA, KELYB) Wednesday reported a drop in net earnings for the first quarter, despite a rise in revenues.

For the period, net earnings declined to $2.5 million or $0.07 per share, from $12.9 million or $0.34 per share a year ago.

On average, 3 analysts polled by Thomson-Reuters expected the company to report a loss of $0.01 for the quarter. Analysts' estimates typically exclude one-time items.

The company recorded an income tax expense of $2.1 million, compared with a tax benefit of $6.8 million a year ago. Selling, general and administrative expenses rose to $216 million from $209.8 million last year.

Revenue for the 3-month period increased to $1.33 billion from $1.31 billion a year earlier. Analysts had expected revenues of $1.34 billion.

On May 6, the board recommended a dividend of $0.05 per share, payable on June 3 to shareholders of record on May 19.