Manpower Inc.
Operating Unit Results
(In millions)
Three Months Ended Six Months Ended
June 30 June 30
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2000 1999 2000 1999
Revenues from services:
United States (a) $ 609.6 $ 560.1 $ 1,173.5 $ 1,075.9
France 1,021.0 893.3 1,934.6 1,721.4
United Kingdom 347.2 264.7 712.2 537.5
Other Europe 459.8 397.1 919.3 758.1
Other Countries 276.5 212.4 542.8 409.9
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$ 2,714.1 $ 2,327.6 $ 5,282.4 $ 4,502.8
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Operating Unit Profit:
United States $ 23.0 $ 21.0 $ 38.5 $ 34.3
France 31.5 21.3 52.3 34.7
United Kingdom 9.6 7.5 17.6 14.3
Other Europe 17.8 15.3 32.5 25.4
Other Countries 1.5 1.2 5.1 3.7
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83.4 66.3 146.0 112.4
Corporate expenses 10.4 9.2 18.9 16.9
Amortization of intangibles 3.3 1.7 6.9 3.3
Non-recurring expenses (b) - 28.0 - 28.0
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Operating profit 69.7 27.4 120.2 64.2
Interest and other expense(c) 10.7 5.0 21.5 9.9
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Earnings before taxes $ 59.0 $ 22.4 $ 98.7 $ 54.3
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Footnotes:
(a) Total systemwide sales in the United States, which
includes sales of Company-owned branches and franchises were
$965.3 and $930.5 for the three months ended June 30, 2000
and 1999, respectively, and $1,887.3 and $1,780.9 for the six
months ended June 30, 2000 and 1999, respectively.
(b) Represents non-recurring items ($16.4 after tax) in the
second quarter of 1999 related to employee severances,
retirement costs and other associated realignment costs.
(c) The components of interest and other expense (income) were:
Interest expense $ 7.9 $ 3.9 $ 15.8 $ 7.8
Interest income (1.7) (1.9) (3.7) (4.1)
Translation loss(gain) 0.2 (0.1) 1.3 0.9
Loss on sale of accounts
receivable 2.1 2.3 5.2 4.6
Other 2.2 0.8 2.9 0.7
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$ 10.7 $ 5.0 $ 21.5 $ 9.9
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