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KELLY SERVICES REPORTS SECOND QUARTER SALES AND EARNINGS

 TROY, Mich., July 29 /PRNewswire/ -- Kelly Services, Inc. (NASDAQ: KELYA, KELYB), the nation's largest staffing support company, today announced sales and earnings for the second quarter of 1993.
 Terence E. Adderley, Kelly Services President and Chief Executive Officer, announced that sales for the quarter ended July 4, 1993 were $484 million, an increase of 16.4 percent over the $416 million reported for the second quarter of 1992. Sales of temporary help in the United States were strong, and rose 19 percent.
 Net earnings of $10 million were 18 percent higher than the $8.5 million reported for the second quarter of 1992. Excluding the effect of lower interest income, earnings from temporary help sales increased by 30 percent.
 After adjusting for the 5-for-4 stock split of May 1993, second quarter earnings per share rose to 27 cents per share versus second quarter 1992 earnings of 23 cents.
 "Despite modest economic forecasts in the United States, and the recession in Europe, 1993 still promises to be a good year for Kelly Services," Adderley said. "We are pleased by the success of our close attention to the problem of margin erosion in our industry, which has persisted since 1990. In the first quarter of 1993, Kelly's margins were stabilized. In the second quarter, margins improved."
 Comparative sales and earnings for the second quarters of 1993 and 1992 were:
 KELLY SERVICES, INC.
 Second Quarter(A) Six Months(A)
 1993 1992 1993 1992
 (In $000's except per share data)
 Sales of services $483,773 $415,673 $936,392 $793,057
 Costs and expenses 468,084 402,423 910,004 770,133
 Earnings before
 income taxes 15,689 13,250 26,388 22,924
 Income taxes 5,680 4,745 9,500 8,210
 Net earnings 10,009 8,505 16,888 14,714
 Earnings per share(B) 0.27 0.23 0.45 0.39
 Average number of Class A
 and B common shares
 outstanding (A) 37,723 37,665 37,721 37,653
 (A) The 13- and 26-week periods ended July 4, 1993, and June 28, 1992.
 (B) Adjusted for 5-for-4 stock split of May 1993.
 -0- 7/29/93
 /CONTACT: Jeanne Nicol of Kelly Services, Inc., 313-244-4305
 (KELY)


CO: Kelly Services, Inc. ST: Michigan IN: SU: ERN

JG-KE -- DE006 -- 7404 07/29/93 10:33 EDT
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Publication:PR Newswire
Date:Jul 29, 1993
Words:385
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