met analysts' earnings estimates for the latest fourth quarter, but the company lowered its guidance to account for the uncertainty the economy has caused its clients.
The company, which provides advertising and direct marketing services and owns job-hunting Web site Monster.com, earned 24 cents a share in the fourth quarter, excluding items, a result that matched the First Call consensus expectation. Including items, TMP earned 16 cents a share, up from 8 cents in the prior-year period.
Total commissions and fees for the quarter fell 13.8% to $326.1 million from $378.2 million a year ago.
For 2002, the company now expects adjusted earnings of $1.35 to $1.40 a share. The projection takes into account the elimination of about 11 cents of goodwill amortization. For the first quarter, TMP forecast adjusted earnings of 13 cents to 16 cents a share.
Analysts expect first-quarter earnings of 23 cents and full-year earnings of $1.46.