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Kelly Services' 3rd-quarter loss widens

Kelly Services' 3rd-quarter loss widens on softness of US staffing market

  • On 2:33 pm EST, Friday November 6, 2009

TROY, Mich. (AP) -- Temporary staffing company Kelly Services Inc. said Friday its third-quarter loss widened on continued softness in the U.S. staffing market

The company posted a loss of $14.8 million, or 43 cents per share, versus a loss of $12.2 million, or 35 cents per share, in the prior-year period.

Revenue for the quarter fell 25 percent to $1.05 billion from $1.4 billion.

Analysts polled by Thomson Reuters predicted a loss of 24 cents per share with revenue of $1.02 billion.

"We are seeing signs that the global economy is picking up steam and job losses are stabilizing," said Carl Camden, President and CEO, in a statement. "Employers are understandably concerned about the sustainability of this recovery and likely will be guarded about expanding their work force.

In afternoon trading, Kelly Services fell 17 cents to $11.74.

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