Kelly Services Q3 Profit Drops, Misses Estimates

(RTTNews) - Kelly Services, Inc. (KELYA, KELYB) Wednesday reported lower profit for the third-quarter.

The company's net earnings dropped to $1.4 million or $0.03 per share from $18.8 million or $0.49 per share last year.

The firm recorded an income tax expense of $3.5 million, while it was only 0.1 million in the year-ago period.

Excluding certain items, the group earned $0.10 per share. Two analysts polled by Thomson-Reuters expected the company to report profit of $0.21 for the quarter. Analysts' estimates typically exclude one-time items.

Revenue from services rose to $1.396 billion from $1.345 billion a year ago, while analysts expected it to be $1.43 billion.

The board declared a dividend of $0.05 per share, payable on December 5 to shareholders of record as of the close of business on November 17.