Kelly Services Q1 Results Top Estimates - Quick Facts

(RTTNews) - Specialty talent solutions provider Kelly Services, Inc. (KELYA, KELYB) reported Thursday that its net income for the fourth quarter was $25.6 million or $0.64 per share, compared to a net loss of $153.2 million or $3.91 per share in the prior-year quarter.

The latest quarter's results include a $147.7 million goodwill impairment charge and an $8.7 million restructuring charge, partially offset by a $32.1 million gain on sale of assets.

The year-ago period's results include a $3.18 per share goodwill impairment charge, net of tax, a $1.38 per share loss from a non-cash loss on Kelly's investment in Persol Holdings common stock, net of tax, and a $0.17 restructuring charge, net of tax, partially offset by a $0.61 gain on sale of assets, net of tax.

Excluding items, adjusted earnings for the quarter were $0.12 per share, compared to $0.20 per share in the year-ago quarter.

Revenue from services for the quarter declined 4.4 percent to $1.21 billion from $1.26 billion in the same quarter last year. It was up 5.5 percent in constant currency.

On average, four analysts polled by Thomson Reuters expected the company to report earnings of $0.14 per share on revenues of $1.18 billion for the quarter. Analysts' estimates typically exclude special items.