Kelly Services, Inc. Second Quarter 2008 Earnings Call Transcript

  • download
  • Print
  • Recommend
  • 0

2008-07-22 11:02:09.0

Tags: Kelly Services Inc., Call Transcript, Business, Earnings, PT, Seeking Alpha

Question-and-Answer Session

Operator

Thank you. Ladies and gentlemen, as to allow as many callers as possible to participate, we ask that you please limit yourself to one question in a single follow up as needed and then return to the queue. (Operator Instructions). We will first go to the line of Jim Janesky with Stifel Nicolaus. Please go ahead.

Carl Camden

Hi Jim.

Jim Janesky - Stifel Nicolaus

Yes, hi Carl. Thank you. Good morning. A question on your US based or Americas business; Some competitors have indicated that, while the US business was still on contracting, it had stabilized and in some cases expected it to stabilize as we moved into the third quarter.

Do you think that is either too optimistic of an outlook or is there something unique to your business mix possibly with the auto related business that has your business contracting more? I would just like to hear your point of view, if I could?

Carl Camden

Sure. For Kelly that would be an optimistic appraisal the one you are reciting by others. We don't see it that way. Our mix is different than other large staffing firms in the US. We are lighter, significantly lighter in the distribution and manufacturing, industrial side of the business.

We are heavier on the office clerical side of the business and so there are going to be quarter-to-quarter differences in what we see on the commercial segment versus the opposition. But I just note, there is nothing and that would be based on our last numbers that would argue that stability has been obtained, and there is nothing yet in the Kelly numbers that would argue stability has been obtained.

Hence our comment on visibility is significantly worse now than it's been.

Jim Janesky - Stifel Nicolaus

Okay and then as a follow up - first couple of weeks of July, how did that trend seem versus what you have experienced in June?

Carl Camden

I do not have enough data there to make a comment or we would have. We were in a holiday period at that point which is always distorting. What do you see?

Jim Janesky - Stifel Nicolaus

Okay, thank you.

Operator

And next in line with Tobey Sommer with Suntrust. Please go ahead.

Carl Camden

Hi Tobey.

Tobey Sommer - Suntrust

Hi good morning. I had a question for you about perm. I think you described the overall perm in the US. PT is kind of flattish. If you would look at monthly trends would you have seen kind of a progressive deterioration because some of the other monthly comparisons you gave whether it was EMEA or I think US commercial, it seems like June was a particularly bad month?

 

BNET TalkbackShare your ideas and expertise on this topic

Please add your comment:

  1. You are currently: a Guest |
  2.  

Basic HTML tags that work in comments are: bold (<b></b>), italic (<i></i>), underline (<u></u>), and hyperlink (<a href></a)

advertisement
advertisement
  • Click Here
  • Click Here
  • Click Here
advertisement