Manpower Up 15% After Reporting Positive Earnings
Shares of Manpower (NYSE: MAN) are up nearly 15% today after the company reported positive earnings this morning.
The company today reported net earnings of 78 cents per diluted share for the three months ended December 31, 2011 compared to a net loss of $4.29 per share in the prior period. The net earnings in the quarter were $63.6 million compared to a net loss of $350.4 million a year earlier. Revenues for the fourth quarter totaled $5.5 billion, an increase of 5 percent from the year earlier period, or an increase of 6 percent in constant currency.
Included in the current year fourth quarter results is a reorganization charge, primarily related to office consolidations and severance costs, of $20.5 million. Net earnings in the quarter were not significantly impacted by changes in foreign currencies.
