Spherion Corp. (SFN) on Monday announced financial results for the fourth quarter, posting earnings from continuing operations in the fourth quarter were $10.0 million, lower than $10.3 million in the prior year quarter. Meanwhile, on a per share basis, earnings remained flat with last year quarter at $0.18.
Net earnings for the period declined to $9.7 million or $0.17 per share from $39.8 million or $0.70 per share in the preceding year period.
Adjusted earnings from continuing operations in the fourth quarter were $11.1 million or $0.20 per share, up from $8.5 million or $0.15 per share in the previous year quarter.
On average, four analysts polled by First Call/Thomson Financial expected the company to report earnings of $0.18 per share.
Fourth quarter revenues rose 17% to $582 million from $498 million in last year period. Three Wall Street analysts expected revenues of $576.69 million.
Looking forward, for the first quarter, the company expects earnings from continuing operations in the range of $0.06 to $0.10 per share. Adjusted earnings from continuing operations are expected to range between $0.07 and $0.11 per share. The company forecasts revenue to be between $585 million and $600 million.
Street analysts expect earnings of $0.09 per share on revenues of $566.80 million.
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