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Strategies & Market Trends : Trader J's Inner Circle -- Ignore unavailable to you. Want to Upgrade?

To: Nicole Bourgault who wrote (41454)	3/19/2001 1:03:06 PM
From: LTK007	Read Replies (1) \| Respond to of 56537

Kelly Services sees earnings well below forecasts(this however is an indicator slowdown is dramatic as Kelly provides temporary workers-max) TROY, Mich., March 19 (Reuters) - Kelly Services Inc. (NasdaqNM:KELYA - news), a provider of staffing services, on Monday said its first-quarter earnings would fall well short of Wall Street forecasts because of the slowing U.S. economy. The Troy, Mich.-based company said it expects earnings of 11 to 15 cents a share, down from 45 cents a year ago and below the 36 cents expected by analysts polled by First Call/Thomson Financial. Kelly said first-quarter sales would be flat to up 2 percent compared with a year earlier. Its 2000 fourth-quarter sales were up 5.7 percent. It predicted earnings-per-share comparisons would be negative for the first three quarters of the year, with the fourth quarter showing modest growth. ``As a result, our best estimate at this point is for full-year earnings per share to total about half of last year's operating results,'' said Terence Adderley, chairman, president and chief executive. On Jan. 25 the company indicated that 2001 earnings might be little changed from 2000. Kelly said it would update its annual estimate when it releases first-quarter results on April 1.