Manpower Inc. today reported net earnings of $260.1 million, or $2.87 per share, for the full year of 2005, up from $245.7 million, or $2.59 per share, in 2004. The Glendale-based staffing company’s revenues for the year increased 8 percent to $16.1 billion for the year.
Manpower’s fourth-quarter net earnings increased to $89.1 million, or $1.01 per share, from $69.6 million, or 73 cents per share in the same period a year ago. The company’s results for the quarter were negatively affected by relatively weaker foreign currencies. The firm’s fourth quarter was positively impacted by a lower income tax rate as a result of tax planning that was completed during the quarter.
Jeffrey Joerres, Manpower’s chairman and chief executive officer, said, “The Manpower team across the world delivered another solid quarter to cap off a solid year. We had outstanding performances in several geographies, including the U.S., the Nordics, Italy, Australia and Elan, our European IT staffing company.”
In a conference call with analysts this morning, Joerres said, “2005 was a record-breaking year.”
Manpower is proposing to move its corporate headquarters and 900 jobs to downtown Milwaukee.
The City of Milwaukee is considering about $25 million in assistance, most in the form of tax incremental financing (TIF) to pay for a seven-story parking garage, which would provide free parking for Manpower employees.
The Milwaukee Press Club will conduct a Newsmaker Luncheon on Wednesday, Feb. 1, to shed light on the city’s proposal for the Manpower project. The featured speakers at the event will be Craig Peterson, president of Zigman Joseph Stephenson in Milwaukee, and Scott Revolinski, president of the Commercial Association of Realtors Wisconsin (CARW). Peterson is trying to rally opposition to the city’s TIF plan for Manpower. Revolinski, a commercial Realtor, is the co-founder of RFP Commercial Inc. and is an advocate of the TIF.
Peterson and Revolinski will be interviewed by a media panel that will include: Mike Jacobs, news anchor at WTMJ Channel 4; Tom Daykin, reporter at the Milwaukee Journal Sentinel; and Pete Millard, reporter at The Business Journal Serving Greater Milwaukee. Steve Jagler, executive editor of Small Business Times and president of the Milwaukee Press Club, will moderate the discussion.
The event will begin at noon at the Newsroom Pub, 137 E. Wells St. The public is invited, but pre-registration is required, because seating is limited. The cost is $10 for Press Club members and $15 for non-members. To register for the event, send an e-mail to MilwaukeePressClub@gmail.com or call (414) 588-9571.
