said it sees some improvement in customer demand as it beat analysts' lowered first-quarter estimates by a penny, but the company's net income dropped 74% from the year ago quarter.
The staffing agency reported net income of $6.9 million, or 9 cents a share, down 74% from $26.8 million, or 35 cents a share, in the year ago quarter. Analysts polled by Thomson Financial/First Call had been expecting 8 cents a share.
The company's revenue also dropped 14% to $2.3 billion from $2.65 billion in the year ago period.
Manpower said it has begun to see an increase in demand for its services, and it anticipates seeing that demand continue throughout the second quarter, which the company called "pivotal." Manpower is expecting to see second-quarter earnings per share in the range of 23 cents to 27 cents, compared with a First Call analyst estimate of 24 cents.
Shares of Manpower were recently up 2.74% to $40.05 on the news after closing at $38.98 Monday.