Manpower Profit Surges

The company overcomes foreign currency weakness.
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Manpower

(MAN) - Get Report

posted a surge in fourth-quarter earnings despite the negative effects of weaker foreign currencies during the period.

The Milwaukee-based staffing company made $89 million, or $1.01 a share, for the quarter ended Dec. 31, up from the year-ago $70 million, or 73 cents a share. Revenue rose 1% on a reported basis and 8% on a constant currency basis to $4.12 billion. Analysts were looking for an 85-cent profit on revenue of $4.1 billion.

The company guided to a first-quarter profit of 36 to 39 cents a share, in line with the Thomson First Call estimate calling for 38 cents. The company said its guidance includes an estimated negative currency impact of 3 cents and the impact of expensing stock options of 3 cents per diluted share.