Earnings
MPS Gives 2nd-quarter View Below Expectations
JACKSONVILLE, Fla. (AP) — Staffing firm MPS Group Inc. on Wednesday offered second-quarter earnings guidance below expectations amid weak worker demand.
The company expects earnings to be break even to 3 cents per share, on revenue between $380 million to $420 million. That is a steep drop from the 23 cents per share on revenue of $589.5 million the company reported in the second quarter last year. Analysts expect a higher profit of 5 cents per share on revenue of $430.5 million. Still, the company indicated that the worst might be over. "As we enter the second quarter, we are somewhat encouraged that sales activity appears to be improving slightly versus the fourth quarter of last year," said company Chief Executive Timothy Payne in a statement. The guidance came as Jacksonville, Fla.-based MPS said first quarter profit fell 92 percent to $1.6 million, or 2 cents per share, from $19.1 million, or 20 cents per share a year ago, while revenue dropped 24 percent.TheStreet Premium Services
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