Kelly Services (KELYA) 8-K KELLY SERVICES REPORTS 3rd QUARTER 2011 RESULTS

Exhibit 99.1

KELLY SERVICES REPORTS 3rd QUARTER 2011 RESULTS

TROY, MI (November 9, 2011) — Kelly Services, Inc. (NASDAQ:KELYA) (NASDAQ:KELYB), a leader in providing workforce solutions, today announced results for the third quarter.

Carl T. Camden, President and Chief Executive Officer, announced revenue for the third quarter of 2011 totaled $1.4 billion, a 10% increase compared to the corresponding quarter in 2010.

Earnings from operations for the third quarter of 2011 totaled $22 million, compared to earnings from operations of $14 million reported for the third quarter of 2010.

Diluted earnings per share from continuing operations in the third quarter of 2011 were $0.52 compared to third quarter 2010 earnings of $0.26 per share.

In view of the economic challenges, Camden called Kelly’s third quarter performance solid and particularly encouraging. “We are seeing continued demand for temporary staffing services ahead of last year. Today’s employers are seeking greater workforce flexibility as they adapt to new market realities, and Kelly is in an excellent position to provide customized solutions – particularly through outsourcing and consulting, and highly skilled professional and technical services. When coupled with our leaner cost structure, that business mix has the potential to accelerate profit growth going forward.”

In conjunction with its third quarter earnings release, Kelly Services, Inc. will host a conference call at 9:00 a.m. (ET) on November 9, to review the results and answer questions. The call may be accessed in one of the following ways:

Via the Telephone:

U.S.	1 800 288 9626
International	1 651 291 5254

The pass code is Kelly Services

Via the Internet:

The call is also available via the internet through the Kelly Services website:
www.kellyservices.com

This release contains statements that are forward looking in nature and accordingly, are subject to risks and uncertainties. These factors include, but are not limited to, competitive market pressures including pricing, changing market and economic conditions, our ability to achieve our business strategy, including our ability to successfully expand into new markets and service lines, material changes in demand from or loss of large corporate customers, impairment charges initiated by adverse industry or market developments, unexpected termination of customer contracts, availability of temporary workers with appropriate skills required by customers, liabilities for employment-related claims and losses, including class action lawsuits, liability for improper disclosure of sensitive or private employee information, unexpected changes in claim trends on workers’ compensation and benefit plans, our ability to maintain specified financial covenants in our bank facilities, our ability to access credit markets and continued availability of financing for funding working capital, our ability to sustain critical business applications through our key data centers, our ability to effectively implement and manage our information technology programs, our ability to retain the services of our senior management, local management and field personnel, the impact of changes in laws and regulations (including federal, state and international tax laws and the upcoming expiration of the U.S. work opportunity credit program), the net financial impact of recent U.S. healthcare legislation on our business, risks associated with conducting business in foreign countries, including foreign currency fluctuations, and other risks, uncertainties and factors discussed in this release and in the Company’s filings with the Securities and Exchange Commission. Actual results may differ materially from any forward looking statements contained herein, and we have no intention to update these statements.

About Kelly Services

Kelly Services, Inc. (NASDAQ: KELYA, KELYB) is a leader in providing workforce solutions. Kelly^® offers a comprehensive array of outsourcing and consulting services as well as world-class staffing on a temporary, temporary-to-hire and direct-hire basis. Serving clients around the globe, Kelly provides employment to more than 530,000 employees annually. Revenue in 2010 was $5.0 billion. Visitwww.kellyservices.com and connect with us onfacebook.com/kellyservices,linkedin.com/companies/kelly-services andtwitter.com/kellyservices.

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ANALYST CONTACT:	MEDIA CONTACT:
James Polehna	Jane Stehney
(248) 244-4586	(248) 244-5630
james_polehna@kellyservices.com	jane_stehney@kellyservices.com

2

KELLY SERVICES, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF EARNINGS
FOR THE 13 WEEKS ENDED OCTOBER 2, 2011 AND OCTOBER 3, 2010
(UNAUDITED)
(In millions of dollars except per share data)

	2011			2010			Change			% Change
Revenue from services	$	1,409.8		$	1,284.7		$	125.1			9.7	%
Cost of services		1,181.2			1,077.5			103.7			9.6
Gross profit		228.6			207.2			21.4			10.4
Selling, general and administrative expenses		206.5			192.9			13.6			7.1
Earnings from operations		22.1			14.3			7.8			54.7
Other income (expense), net		1.0			(1.5	)		2.5			161.7
Earnings from continuing operations before taxes		23.1			12.8			10.3			80.2
Income taxes		3.4			3.2			0.2			4.6
Earnings from continuing operations		19.7			9.6			10.1			105.6
Loss from discontinued operations, net of tax		—			—			—		NM
Net earnings	$	19.7		$	9.6		$	10.1			105.6	%
Basic earnings per share on common stock
Earnings from continuing operations	$	0.52		$	0.26		$	0.26			100.0	%
Loss from discontinued operations		—			—			—		NM
Net earnings		0.52			0.26			0.26			100.0
Diluted earnings per share on common stock
Earnings from continuing operations	$	0.52		$	0.26		$	0.26			100.0	%
Loss from discontinued operations		—			—			—		NM
Net earnings		0.52			0.26			0.26			100.0
STATISTICS:
Gross profit rate		16.2	%		16.1	%	0.1		pts.
Selling, general and administrative expenses:
% of revenue		14.6			15.0			(0.4	)
% of gross profit		90.3			93.1			(2.8	)
% Return — Earnings from operations		1.6			1.1			0.5
Earnings from continuing operations before taxes		1.6			1.0			0.6
Earnings from continuing operations		1.4			0.7			0.7
Net earnings		1.4			0.7			0.7
Effective income tax rate		14.6	%		25.1	%	(10.5		) pts.
Average number of shares outstanding (millions):
Basic		36.8			36.7
Diluted		36.8			36.7
Shares adjusted for nonvested restricted awards (millions):
Basic		37.8			37.0
Diluted		37.8			37.0

3

KELLY SERVICES, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF EARNINGS
FOR THE 39 WEEKS ENDED OCTOBER 2, 2011 AND OCTOBER 3, 2010
(UNAUDITED)
(In millions of dollars except per share data)

	2011			2010			Change			% Change
Revenue from services	$	4,154.7		$	3,624.5		$	530.2			14.6	%
Cost of services		3,487.8			3,046.4			441.4			14.5
Gross profit		666.9			578.1			88.8			15.4
Selling, general and administrative expenses		621.9			555.4			66.5			12.0
Asset impairments		—			1.5			(1.5	)		(100.0	)
Earnings from operations		45.0			21.2			23.8			112.3
Other expense, net		(0.1	)		(4.7	)		4.6			97.3
Earnings from continuing operations before taxes		44.9			16.5			28.4			171.3
Income taxes		4.1			5.0			(0.9	)		(18.9	)
Earnings from continuing operations		40.8			11.5			29.3			254.9
Loss from discontinued operations, net of tax		(1.2	)		—			(1.2	)	NM
Net earnings	$	39.6		$	11.5		$	28.1			244.7	%
Basic earnings per share on common stock
Earnings from continuing operations	$	1.09		$	0.32		$	0.77			240.6	%
Loss from discontinued operations		(0.03	)		—			(0.03	)	NM
Net earnings		1.05			0.32			0.73			228.1
Diluted earnings per share on common stock
Earnings from continuing operations	$	1.09		$	0.32		$	0.77			240.6	%
Loss from discontinued operations		(0.03	)		—			(0.03	)	NM
Net earnings		1.05			0.32			0.73			228.1
STATISTICS:
Gross profit rate		16.1	%		16.0	%	0.1		pts.
Selling, general and administrative expenses:
% of revenue		15.0			15.3			(0.3	)
% of gross profit		93.3			96.1			(2.8	)
% Return — Earnings from operations		1.1			0.6			0.5
Earnings from continuing operations before taxes		1.1			0.5			0.6
Earnings from continuing operations		1.0			0.3			0.7
Net earnings		1.0			0.3			0.7
Effective income tax rate		9.1	%		30.6	%	(21.5		) pts.
Average number of shares outstanding (millions):
Basic		36.8			35.9
Diluted		36.8			35.9
Shares adjusted for nonvested restricted awards (millions):
Basic		37.6			36.3
Diluted		37.6			36.3

4

KELLY SERVICES, INC. AND SUBSIDIARIES
RESULTS OF OPERATIONS BY SEGMENT
(UNAUDITED)
(In millions of dollars)

	Third Quarter
										Constant
										Currency
	2011			2010			Change			Change
Americas Commercial
Revenue from services (including fee-based income)	$	661.7		$	633.3			4.5	%		3.8	%
Fee-based income		3.2			2.2			47.7			46.3
Gross profit		93.9			92.3			1.7			1.1
Total SG&A expenses		72.1			69.1			4.3			3.7
Earnings from operations		21.8			23.2			(5.9	)
Gross profit rate		14.2	%		14.6	%	(0.4		) pts.
Expense rates:
% of revenue		10.9			10.9			—
% of gross profit		76.7			74.8			1.9
Operating margin		3.3			3.7			(0.4	)
Americas PT
Revenue from services (including fee-based income)	$	250.8		$	233.6			7.4	%		7.3	%
Fee-based income		3.2			2.2			48.1			47.7
Gross profit		38.0			37.2			2.0			1.9
Total SG&A expenses		26.0			23.5			10.6			10.4
Earnings from operations		12.0			13.7			(12.6	)
Gross profit rate		15.1	%		15.9	%	(0.8		) pts.
Expense rates:
% of revenue		10.4			10.1			0.3
% of gross profit		68.4			63.1			5.3
Operating margin		4.8			5.9			(1.1	)
EMEA Commercial
Revenue from services (including fee-based income)	$	261.0		$	228.1			14.4	%		2.8	%
Fee-based income		6.5			4.5			45.2			33.1
Gross profit		42.2			37.2			13.4			1.7
SG&A expenses excluding restructuring charges		36.3			32.4			11.8
Restructuring charges		(0.6	)		—		NM
Total SG&A expenses		35.7			32.4			10.0			(1.7	)
Earnings from operations		6.5			4.8			36.7
Earnings from operations excluding restructuring charges		5.9			4.8			24.3
Gross profit rate		16.2	%		16.3	%	(0.1		) pts.
Expense rates (excluding restructuring charges):
% of revenue		13.9			14.2			(0.3	)
% of gross profit		86.0			87.2			(1.2	)
Operating margin (excluding restructuring charges)		2.3			2.1			0.2

5

KELLY SERVICES, INC. AND SUBSIDIARIES
RESULTS OF OPERATIONS BY SEGMENT (continued)
(UNAUDITED)
(In millions of dollars)

	Third Quarter
										Constant
										Currency
	2011			2010			Change			Change
EMEA PT
Revenue from services (including fee-based income)	$	46.8		$	37.1			26.3	%		14.1	%
Fee-based income		5.3			3.6			45.9			34.5
Gross profit		12.7			9.6			31.6			19.9
Total SG&A expenses		11.1			9.3			20.2			8.3
Earnings from operations		1.6			0.3			312.1
Gross profit rate		27.1	%		26.0	%	1.1		pts.
Expense rates:
% of revenue		23.8			25.0			(1.2	)
% of gross profit		87.7			96.1			(8.4	)
Operating margin		3.3			1.0			2.3
APAC Commercial
Revenue from services (including fee-based income)	$	101.8		$	88.7			14.7	%		4.5	%
Fee-based income		3.8			3.0			28.3			17.2
Gross profit		14.7			12.4			18.8			7.6
Total SG&A expenses		14.1			11.4			23.5			11.4
Earnings from operations		0.6			1.0			(35.5	)
Gross profit rate		14.5	%		14.0	%	0.5		pts.
Expense rates:
% of revenue		13.8			12.8			1.0
% of gross profit		95.7			92.0			3.7
Operating margin		0.6			1.1			(0.5	)
APAC PT
Revenue from services (including fee-based income)	$	14.1		$	8.2			72.3	%		58.8	%
Fee-based income		4.2			2.9			47.1			36.2
Gross profit		5.6			3.8			52.2			40.0
Total SG&A expenses		5.7			4.3			31.5			20.3
Earnings from operations		(0.1	)		(0.5	)		89.3
Gross profit rate		39.9	%		45.2	%	(5.3		) pts.
Expense rates:
% of revenue		40.4			53.0			(12.6	)
% of gross profit		101.2			117.1			(15.9	)
Operating margin		(0.5	)		(7.7	)		7.2

6

KELLY SERVICES, INC. AND SUBSIDIARIES
RESULTS OF OPERATIONS BY SEGMENT (continued)
(UNAUDITED)
(In millions of dollars)

	Third Quarter
										Constant
										Currency
	2011			2010			Change			Change
OCG
Revenue from services (including fee-based income)	$	80.7		$	64.1			25.9	%		24.4	%
Fee-based income		10.5			6.6			60.3			53.6
Gross profit		22.2			15.4			44.1			40.4
Total SG&A expenses		22.4			19.6			14.5			10.8
Earnings from operations		(0.2	)		(4.2	)		94.0
Gross profit rate		27.5	%		24.0	%	3.5		pts.
Expense rates:
% of revenue		27.8			30.5			(2.7	)
% of gross profit		101.1			127.2			(26.1	)
Operating margin		(0.3	)		(6.5	)		6.2
Corporate Expense
SG&A expenses excluding restructuring charges	$	20.1		$	21.2			(4.8	)%
Restructuring charges		—			2.8			(100.0	)
Total SG&A expenses		20.1			24.0			(16.1	)
Consolidated Total (net of intersegment activity)
Revenue from services (including fee-based income)	$	1,409.8		$	1,284.7			9.7	%		6.1	%
Fee-based income		36.7			24.9			48.5			40.1
Gross profit		228.6			207.2			10.4			6.3
SG&A expenses excluding restructuring charges		207.1			190.1			9.0
Restructuring charges		(0.6	)		2.8			(120.7	)
Total SG&A expenses		206.5			192.9			7.1			3.0
Earnings from operations		22.1			14.3			54.7
Earnings from operations excluding restructuring charges		21.5			17.1			25.6
Gross profit rate		16.2	%		16.1	%	0.1		pts.
Expense rates (excluding restructuring charges):
% of revenue		14.7			14.8			(0.1	)
% of gross profit		90.6			91.7			(1.1	)
Operating margin (excluding restructuring charges)		1.5			1.3			0.2

7

KELLY SERVICES, INC. AND SUBSIDIARIES
RESULTS OF OPERATIONS BY SEGMENT
(UNAUDITED)
(In millions of dollars)

	September Year to Date
										Constant
										Currency
	2011			2010			Change			Change
Americas Commercial
Revenue from services (including fee-based income)	$	1,985.3		$	1,781.9			11.4	%		10.7	%
Fee-based income		8.8			6.5			36.9			35.3
Gross profit		280.1			256.5			9.2			8.5
SG&A expenses excluding restructuring charges		218.6			201.9			8.3
Restructuring charges		—			0.3			(100.0	)
Total SG&A expenses		218.6			202.2			8.1			7.5
Earnings from operations		61.5			54.3			13.3
Earnings from operations excluding restructuring charges		61.5			54.6			12.6
Gross profit rate		14.1	%		14.4	%	(0.3		) pts.
Expense rates (excluding restructuring charges):
% of revenue		11.0			11.3			(0.3	)
% of gross profit		78.0			78.7			(0.7	)
Operating margin (excluding restructuring charges)		3.1			3.1			—
Americas PT
Revenue from services (including fee-based income)	$	739.1		$	659.1			12.1	%		12.0	%
Fee-based income		9.7			6.7			45.2			44.9
Gross profit		110.1			103.2			6.6			6.5
Total SG&A expenses		79.2			69.2			14.4			14.2
Earnings from operations		30.9			34.0			(9.1	)
Gross profit rate		14.9	%		15.7	%	(0.8		) pts.
Expense rates:
% of revenue		10.7			10.5			0.2
% of gross profit		71.9			67.0			4.9
Operating margin		4.2			5.2			(1.0	)
EMEA Commercial
Revenue from services (including fee-based income)	$	751.3		$	642.8			16.9	%		6.5	%
Fee-based income		18.9			14.4			30.9			20.0
Gross profit		121.8			103.8			17.3			6.6
SG&A expenses excluding restructuring charges		107.9			95.7			12.7
Restructuring charges		2.8			2.7			4.0
Total SG&A expenses		110.7			98.4			12.5			2.2
Asset impairments		—			1.5			(100.0	)
Earnings from operations		11.1			3.9			187.7
Earnings from operations excluding restructuring charges		13.9			6.6			112.3
Gross profit rate		16.2	%		16.1	%	0.1		pts.
Expense rates (excluding restructuring charges):
% of revenue		14.4			14.9			(0.5	)
% of gross profit		88.6			92.2			(3.6	)
Operating margin (excluding restructuring charges)		1.8			1.0			0.8

8

KELLY SERVICES, INC. AND SUBSIDIARIES
RESULTS OF OPERATIONS BY SEGMENT (continued)
(UNAUDITED)
(In millions of dollars)

	September Year to Date
										Constant
										Currency
	2011			2010			Change			Change
EMEA PT
Revenue from services (including fee-based income)	$	134.0		$	106.4			26.0	%		15.4	%
Fee-based income		15.0			11.2			32.8			22.5
Gross profit		36.1			28.3			26.9			16.7
Total SG&A expenses		32.8			27.6			19.0			8.5
Earnings from operations		3.3			0.7			289.0
Gross profit rate		26.9	%		26.7	%	0.2		pts.
Expense rates:
% of revenue		24.5			25.9			(1.4	)
% of gross profit		91.0			97.1			(6.1	)
Operating margin		2.4			0.8			1.6
APAC Commercial
Revenue from services (including fee-based income)	$	303.8		$	253.3			19.9	%		8.9	%
Fee-based income		11.0			8.5			30.4			18.4
Gross profit		42.5			35.5			19.9			8.1
SG&A expenses excluding restructuring charges		41.3			32.0			29.1
Restructuring charges		—			0.5			(100.0	)
Total SG&A expenses		41.3			32.5			26.9			14.2
Earnings from operations		1.2			3.0			(58.8	)
Earnings from operations excluding restructuring charges		1.2			3.5			(65.2	)
Gross profit rate		14.0	%		14.0	%	—		pts.
Expense rates (excluding restructuring charges):
% of revenue		13.6			12.6			1.0
% of gross profit		97.2			90.3			6.9
Operating margin (excluding restructuring charges)		0.4			1.4			(1.0	)
APAC PT
Revenue from services (including fee-based income)	$	39.1		$	23.6			65.5	%		52.1	%
Fee-based income		12.2			7.6			63.1			50.3
Gross profit		16.2			10.1			61.5			48.1
Total SG&A expenses		17.8			12.0			48.9			36.1
Earnings from operations		(1.6	)		(1.9	)		15.7
Gross profit rate		41.5	%		42.5	%	(1.0		) pts.
Expense rates:
% of revenue		45.7			50.8			(5.1	)
% of gross profit		110.2			119.6			(9.4	)
Operating margin		(4.2	)		(8.3	)		4.1

9

KELLY SERVICES, INC. AND SUBSIDIARIES
RESULTS OF OPERATIONS BY SEGMENT (continued)
(UNAUDITED)
(In millions of dollars)

	September Year to Date
										Constant
										Currency
	2011			2010			Change			Change
OCG
Revenue from services (including fee-based income)	$	222.9		$	179.8			24.0	%		22.6	%
Fee-based income		28.7			18.3			57.0			50.8
Gross profit		62.1			42.4			46.7			43.3
SG&A expenses excluding restructuring charges		65.5			56.8			15.4
Restructuring charges		—			0.1			(100.0	)
Total SG&A expenses		65.5			56.9			15.3			11.7
Earnings from operations		(3.4	)		(14.5	)		76.1
Earnings from operations excluding restructuring charges		(3.4	)		(14.4	)		76.0
Gross profit rate		27.8	%		23.5	%	4.3		pts.
Expense rates (excluding restructuring charges):
% of revenue		29.4			31.6			(2.2	)
% of gross profit		105.6			134.3			(28.7	)
Operating margin (excluding restructuring charges)		(1.6	)		(8.1	)		6.5
Corporate Expense
SG&A expenses excluding restructuring charges	$	58.0		$	54.7			5.9	%
Restructuring charges		—			3.6			(100.0	)
Total SG&A expenses		58.0			58.3			(0.6	)
Consolidated Total (net of intersegment activity)
Revenue from services (including fee-based income)	$	4,154.7		$	3,624.5			14.6	%		11.2	%
Fee-based income		104.2			73.0			43.1			34.9
Gross profit		666.9			578.1			15.4			11.4
SG&A expenses excluding restructuring charges		619.1			548.2			12.9
Restructuring charges		2.8			7.2			(61.7	)
Total SG&A expenses		621.9			555.4			12.0			8.0
Asset impairments		—			1.5			(100.0	)
Earnings from operations		45.0			21.2			112.3
Earnings from operations excluding restructuring charges		47.8			28.4			67.9
Gross profit rate		16.1	%		16.0	%	0.1		pts.
Expense rates (excluding restructuring charges):
% of revenue		14.9			15.1			(0.2	)
% of gross profit		92.8			94.8			(2.0	)
Operating margin (excluding restructuring charges)		1.2			0.8			0.4

10

KELLY SERVICES, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(UNAUDITED)
(In millions of dollars)

	October 2,			January 2,			October 3,
	2011			2011			2010
Current Assets
Cash and equivalents	$	73.5		$	80.5		$	87.2
Trade accounts receivable, less allowances of $13.7, $12.3 and $13.0, respectively		939.9			810.9			831.3
Prepaid expenses and other current assets		53.7			44.8			54.7
Deferred taxes		27.0			22.4			25.5
Total current assets		1,094.1			958.6			998.7
Property and Equipment, Net		91.6			104.0			107.2
Noncurrent Deferred Taxes		89.6			84.0			80.4
Goodwill, Net		67.3			67.3			67.3
Other Assets		145.6			154.5			147.3
Total Assets	$	1,488.2		$	1,368.4		$	1,400.9
Current Liabilities
Short-term borrowings and current portion of long-term debt	$	79.0		$	78.8		$	68.3
Accounts payable and accrued liabilities		227.7			181.6			167.6
Accrued payroll and related taxes		283.0			243.3			273.0
Accrued insurance		31.4			31.3			23.8
Income and other taxes		60.0			56.0			56.6
Total current liabilities		681.1			591.0			589.3
Noncurrent Liabilities
Long-term debt		—			—			52.7
Accrued insurance		53.7			53.6			56.3
Accrued retirement benefits		82.8			85.4			79.0
Other long-term liabilities		13.6			14.6			15.3
Total noncurrent liabilities		150.1			153.6			203.3
Stockholders’ Equity
Common stock		40.1			40.1			40.1
Treasury stock		(68.6	)		(70.9	)		(71.2	)
Paid-in capital		29.3			28.0			27.5
Earnings invested in the business		635.3			597.6			583.0
Accumulated other comprehensive income		20.9			29.0			28.9
Total stockholders’ equity		657.0			623.8			608.3
Total Liabilities and Stockholders’ Equity	$	1,488.2		$	1,368.4		$	1,400.9
STATISTICS:
Working Capital	$	413.0		$	367.6		$	409.4
Current Ratio		1.6			1.6			1.7
Debt-to-capital %		10.7	%		11.2	%		16.6	%
Global Days Sales Outstanding		52			49			52

11

KELLY SERVICES, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE 39 WEEKS ENDED OCTOBER 2, 2011 AND OCTOBER 3, 2010
(UNAUDITED)
(In millions of dollars)

	2011			2010
Cash flows from operating activities
Net earnings	$	39.6		$	11.5
Noncash adjustments:
Impairment of assets		—			1.5
Depreciation and amortization		23.9			26.5
Provision for bad debts		3.5			1.0
Stock-based compensation		3.5			2.2
Other, net		(1.5	)		1.0
Changes in operating assets and liabilities		(63.4	)		(43.6	)
Net cash from operating activities		5.6			0.1
Cash flows from investing activities
Capital expenditures		(10.0	)		(5.9	)
Settlement of forward exchange contracts		0.7			—
Other investing activities		0.3			0.5
Net cash from investing activities		(9.0	)		(5.4	)
Cash flows from financing activities
Net change in short-term borrowings		61.9			(12.8	)
Repayment of debt		(62.9	)		(7.3	)
Dividend payments		(1.9	)		—
Sale of stock and other financing activities		(1.0	)		24.3
Net cash from financing activities		(3.9	)		4.2
Effect of exchange rates on cash and equivalents		0.3			(0.6	)
Net change in cash and equivalents		(7.0	)		(1.7	)
Cash and equivalents at beginning of period		80.5			88.9
Cash and equivalents at end of period	$	73.5		$	87.2

12

KELLY SERVICES, INC. AND SUBSIDIARIES
REVENUE FROM SERVICES
(UNAUDITED)
(In millions of dollars)

	Third Quarter (Commercial, PT and OCG)
					% Change
								Constant
	2011		2010		US$			Currency
Americas
United States	$	858.6	$	811.3		5.8	%		5.8	%
Canada		66.0		56.7		16.3			9.8
Mexico		27.1		25.2		7.7			4.0
Puerto Rico		24.5		21.7		13.3			13.3
Total Americas		976.2		914.9		6.7			6.2
EMEA
France		76.6		71.3		7.5			(1.4	)
Switzerland		68.3		47.9		42.4			13.9
Russia		36.4		26.8		36.4			30.4
United Kingdom		30.9		33.8		(8.3	)		(11.5	)
Portugal		22.8		21.3		6.9			(1.9	)
Germany		21.4		18.1		18.3			8.5
Norway		18.3		15.1		21.2			8.5
Italy		18.2		14.7		23.2			13.4
Other		21.7		20.8		4.5			(4.5	)
Total EMEA		314.6		269.8		16.6			4.9
APAC
Australia		36.8		31.9		15.3			(0.1	)
Singapore		26.2		21.7		20.8			9.6
Malaysia		18.1		16.5		9.5			5.1
India		18.0		15.5		15.6			14.2
Other		19.9		14.4		38.2			23.9
Total APAC		119.0		100.0		18.9			8.5
Total Kelly Services, Inc.	$	1,409.8	$	1,284.7		9.7	%		6.1	%

13

KELLY SERVICES, INC. AND SUBSIDIARIES
REVENUE FROM SERVICES
(UNAUDITED)
(In millions of dollars)

	September Year to Date (Commercial, PT and OCG)
					% Change
								Constant
	2011		2010		US$			Currency
Americas
United States	$	2,561.6	$	2,292.3		11.7	%		11.7	%
Canada		186.8		162.8		14.7			8.3
Mexico		79.8		66.1		20.8			14.4
Puerto Rico		70.7		55.6		27.2			27.2
Total Americas		2,898.9		2,576.8		12.5			11.9
EMEA
France		224.7		206.2		9.0			1.7
Switzerland		177.8		120.0		48.1			20.9
Russia		108.4		75.5		43.7			36.5
United Kingdom		92.5		105.6		(12.4	)		(16.8	)
Portugal		66.1		58.8		12.5			4.8
Germany		62.7		50.6		23.8			15.6
Italy		53.3		46.1		15.5			7.6
Norway		50.9		43.1		18.1			7.4
Other		67.4		56.9		18.6			10.0
Total EMEA		903.8		762.8		18.5			8.1
APAC
Australia		110.3		88.2		25.1			8.3
Singapore		78.6		60.2		30.6			17.8
Malaysia		54.5		47.4		15.0			7.2
India		53.1		44.4		19.6			17.7
Other		55.5		44.7		24.0			13.1
Total APAC		352.0		284.9		23.5			12.3
Total Kelly Services, Inc.	$	4,154.7	$	3,624.5		14.6	%		11.2	%

14

KELLY SERVICES, INC. AND SUBSIDIARIES
RECONCILIATION OF NON-GAAP MEASURES
(UNAUDITED)
(In millions of dollars except per share data)

	Third Quarter					September Year to Date
	2011			2010		2011		2010
Pretax earnings from operations	$	22.1		$	14.3	$	45.0	$	21.2
Restructuring charges (Note 1)		(0.6	)		2.8		2.8		7.2
Asset impairments (Note 2)		—			—		—		1.5
Earnings from operations excluding restructuring and asset impairment charges	$	21.5		$	17.1	$	47.8	$	29.9

	Third Quarter
	2011						2010
	Amount			Per Share			Amount		Per Share
Earnings from continuing operations, net of taxes	$	19.7		$	0.52		$	9.6	$	0.26
Restructuring charges, net of taxes (Note 1)		(0.6	)		(0.02	)		1.8		0.05
Earnings from continuing operations excluding restructuring charges, net of taxes	$	19.1		$	0.51		$	11.4	$	0.31

	September Year to Date
	2011				2010
	Amount		Per Share		Amount		Per Share
Earnings from continuing operations, net of taxes	$	40.8	$	1.09	$	11.5	$	0.32
Restructuring charges, net of taxes (Note 1)		2.8		0.07		5.4		0.15
Asset impairments, net of taxes (Note 2)		—		—		1.2		0.03
Earnings from continuing operations excluding restructuring and asset impairment charges, net of taxes	$	43.6	$	1.16	$	18.1	$	0.50

15

KELLY SERVICES, INC. AND SUBSIDIARIES
RECONCILIATION OF NON-GAAP MEASURES
(UNAUDITED)

Management believes that the non-GAAP (Generally Accepted Accounting Principles) information excluding the restructuring and impairment charges is useful to understand the Company’s fiscal 2011 financial performance and increases comparability. Specifically, Management believes that excluding these items allows for a more meaningful comparison of current period operating performance with the operating results of prior periods. These non-GAAP measures may have limitations as analytical tools because they exclude items which can have a material impact on cash flow and earnings per share. As a result, Management considers these measures, along with reported results, when it reviews and evaluates the Company’s financial performance. Management believes that these measures provide greater transparency to investors and provide insight into how Management is evaluating the Company’s financial performance. Non-GAAP measures should not be considered a substitute for, or superior to, measures of financial performance prepared in accordance with GAAP.

(1) In 2010, restructuring costs related primarily to severance and lease termination costs for branches in the EMEA and APAC Commercial segments that were in the process of closure at the end of 2009, as well as severance costs related to the corporate headquarters. In 2011, restructuring costs relate primarily to revisions of the estimated lease termination costs for EMEA Commercial branches that closed in prior years.

(2) Asset impairment charges relate to the write-off of incomplete software projects in Europe.

16