Strong Demand for Services Boosts MPS Earnings

By Basch, Mark | The Florida Times Union, July 30, 2004 | Go to article overview

Strong Demand for Services Boosts MPS Earnings


Basch, Mark, The Florida Times Union


Byline: Mark Basch, The Times-Union

MPS Group Inc. Thursday reported higher second-quarter earnings, with particularly strong demand in its professional services side of the business.

Jacksonville-based MPS, which provides staffing and other services for professional and information technology businesses, had second-quarter net income of $9.3 million, or nine cents a share, up from $5.8 million, or six cents a share, the previous year. The company said a tax benefit increased second-quarter 2004 earnings by one cent a share.

Revenue for the quarter rose 7 percent over the first quarter and 22 percent over the second quarter of 2003 to $333.2 million.

The earnings were within the range MPS had forecast of seven to nine cents a share and the revenue was higher than its forecast range of $315 million to $330 million.

"In general, we were pleased with our results for the quarter and for the first half of the year," said Chief Executive Officer Timothy Payne in a conference call with analysts.

Payne said demand for its professional divisions, which service businesses in the finance and accounting, law, engineering and health care areas, has been stronger than its information technology divisions. …

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