Kelly Services Slips To Loss In Q3, Stock Down

(RTTNews) - Kelly Services, Inc. (KELYA, KELYB), a global staffing and recruitment company, reported it slipped to loss in the third quarter compared to last year.

In the pre-market activity, shares are trading 14.20 percent down, at $9.79 on the Nasdaq.

The firm reported net loss of $150.1 million from a net profit $0.3 million for the comparable third quarter period.

For the three-month period, loss per share was $4.26 from earnings per share of $0.02 a year ago.

Analysts on average had expected the company to earn $0.41 per share.

Kelly's operating loss was $102.1 million from a profit $2.6 million the earlier year.

For the reported period, adjusted EBITDA was $16.5 million, lower than $26.2 million the prior-year quarter.

The company's revenue from services came in at $935 million, 9.9% lower than $1.04 billion last year.

Analysts were looking for revenue of $1.02 billion.