Kelly Services (NASDAQ: KELYA) saw its shares drop Wednesday, on announcing results for the second quarter of 2018.
Revenue for the second quarter of 2018 totaled $1.4 billion, a 4.0% increase, or 3.0% in constant currency, compared to the corresponding quarter of 2017. Earnings from operations for the second quarter of 2018 totaled $20.4 million, compared to the $20.3 million reported for the second quarter of 2017.
Diluted losses per share in the second quarter of 2018 were $0.40 compared to earnings per share of $0.47 in the second quarter of 2017. Included in earnings per share in the second quarter of 2018 is the unfavorable impact of $0.94 due to the non-cash after-tax loss on our investment in Persol Holdings common stock.
"We are pleased to have delivered a good quarter in line with our outlook," said Kelly Services CEO George Corona. "Our top line revenue continued to grow, our gross profit rate increased over the prior year, and we made progress throughout the quarter in bringing expenses in line with the business environment. In spite of a tight labor market, our teams around the world executed well."
Kelly also reported that on August 8, its board of directors declared a dividend of $0.075 per share. The dividend is payable August 31, to shareholders of record as of the close of business on August 21.
Kelly boasts a status as "a global leader in providing workforce solutions."
Its shares faded 48 cents, or 2%, to $23.90
