Kelly Services (KELYA) 8-K KELLY SERVICES REPORTS 1st QUARTER 2009 RESULTS

Exhibit 99.1

KELLY SERVICES REPORTS 1st QUARTER 2009 RESULTS

TROY, MI (April 28, 2009) — Kelly Services, Inc., a world leader in human resources solutions, today announced results for the first quarter of 2009.

Carl T. Camden, President and Chief Executive Officer, announced revenue for the first quarter of 2009 totaled $1.0 billion, a 25% decrease compared to the corresponding quarter in 2008. On a constant currency basis, revenue decreased by 19%.

Losses from operations for the first quarter of 2009 totaled $30.6 million, compared to earnings from operations of $12.9 million reported for the first quarter of 2008. Included in the results from operations for the first quarter 2009 are $5.4 million of restructuring costs relating to the Company’s UK operations. The UK restructuring charge is part of a plan to further consolidate and close branches in the UK during 2009.

Diluted losses per share from continuing operations in the first quarter of 2009 were $0.46, compared to first quarter 2008 earnings of $0.23 per share. The UK restructuring charge totaled $0.15 per share in 2009.

Commenting on the first quarter results, Camden called the Company’s loss disappointing, but not unexpected given the condition of the global labor market and widespread economic slowdown.

“In spite of the challenges we’re facing, we’ve made significant progress in reducing operating costs by 13%, while pursuing our strategic plan aimed at building long-term value for our stakeholders.

“Our ability to remain focused on diversifying globally, expanding our professional and technical staffing, and growing our outsourcing and consulting services, in this bad economy, is critical to our future success,” said Camden.

In conjunction with its first quarter earnings release, Kelly Services, Inc. will host a conference call at 9:00 a.m. (ET) on April 28, 2009 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: competition, changing market and economic conditions, currency fluctuations, changes in laws and regulations, including tax laws, and other 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.

A reconciliation of certain non-GAAP financial measures discussed in this release is included in the attached financial information schedules.

About Kelly Services

Kelly Services, Inc. (NASDAQ: KELYA, KELYB) is a world leader in human resources solutions headquartered in Troy, Michigan, offering temporary staffing services, outsourcing, vendor on-site and full-time placement to clients on a global basis. Kelly provides employment to nearly 650,000 employees annually, with skills including office services, accounting, engineering, information technology, law, science, marketing, creative services, light industrial, education, and health care. Revenue in 2008 was $5.5 billion. Visitwww.kellyservices.com.

ANALYST CONTACT:	MEDIA CONTACT:
James Polehna	Judith Clark
(248) 244-4586	(248) 244-5362
james_polehna@kellyservices.com	judith_clark@kellyservices.com

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KELLY SERVICES, INC. AND SUBSIDIARIES
STATEMENTS OF EARNINGS
FOR THE 13 WEEKS ENDED MARCH 29, 2009 AND MARCH 30, 2008
(UNAUDITED)
(In millions of dollars except per share data)

	2009			2008			Change			% Change
Revenue from services	$	1,042.6		$	1,388.4		$	(345.8	)		(24.9	)%
Cost of services		867.1			1,138.5			(271.4	)		(23.8	)
Gross profit		175.5			249.9			(74.4	)		(29.8	)
Selling, general and administrative expenses		206.1			237.0			(30.9	)		(13.0	)
(Loss) earnings from operations		(30.6	)		12.9			(43.5	)		(336.7	)
Other income, net		1.3			—			1.3		NM
(Loss) earnings from continuing operations before taxes		(29.3	)		12.9			(42.2	)		(327.5	)
Income taxes		(13.2	)		4.9			(18.1	)		(370.1	)
(Loss) earnings from continuing operations		(16.1	)		8.0			(24.1	)		(301.4	)
Earnings from discontinued operations, net of tax		0.6			0.2			0.4			146.6
Net (loss) earnings	$	(15.5	)	$	8.2		$	(23.7	)		(288.4	)%
Basic (loss) earnings per share on common stock
(Loss) earnings from continuing operations	$	(0.46	)	$	0.23		$	(0.69	)		(300.0	)%
Earnings from discontinued operations		0.02			0.01			0.01			100.0
Net (loss) earnings		(0.45	)		0.23			(0.68	)		(295.7	)
Diluted (loss) earnings per share on common stock
(Loss) earnings from continuing operations	$	(0.46	)	$	0.23		$	(0.69	)		(300.0	)%
Earnings from discontinued operations		0.02			0.01			0.01			100.0
Net (loss) earnings		(0.45	)		0.23			(0.68	)		(295.7	)
STATISTICS:
Gross profit rate		16.8	%		18.0	%	(1.2		) pts.
Selling, general and administrative expenses:
% of revenue		19.8			17.1			2.7
% of gross profit		117.5			94.8			22.7
% Return — (Loss) earnings from operations		(2.9	)		0.9			(3.8	)
(Loss) earnings from continuing operations before taxes		(2.8	)		0.9			(3.7	)
(Loss) earnings from continuing operations		(1.5	)		0.6			(2.1	)
Net (loss) earnings		(1.5	)		0.6			(2.1	)
Effective income tax rate		45.1	%		38.0	%	7.1		pts.

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

	First Quarter
										Constant
										Currency
	2009			2008			Change			Change
Americas Commercial
Revenue from services (including fee-based income)	$	482.4		$	642.7			(24.9	) %		(22.8	) %
Fee-based income		1.8			4.2			(57.0	)		(52.7	)
Earnings from operations		0.5			22.2			(97.8	)
Gross profit rate		15.2	%		16.3	%	(1.1		) pts.
Expense rates:
% of revenue		15.1			12.9			2.2
% of gross profit		99.3			78.8			20.5
Operating margin		0.1			3.5			(3.4	)
Americas PT
Revenue from services (including fee-based income)	$	197.4		$	238.6			(17.3	) %		(17.0	) %
Fee-based income		2.8			5.3			(47.8	)		(47.7	)
Earnings from operations		5.3			14.1			(62.7	)
Gross profit rate		15.9	%		17.7	%	(1.8		) pts.
Expense rates:
% of revenue		13.3			11.8			1.5
% of gross profit		83.3			66.7			16.6
Operating margin		2.7			5.9			(3.2	)
EMEA Commercial
Revenue from services (including fee-based income)	$	216.6		$	321.9			(32.7	) %		(17.9	) %
Fee-based income		4.7			10.7			(55.2	)		(44.9	)
Earnings from operations		(12.1	)		(1.6	)	NM
Earnings from operations (excluding restructuring charges)		(6.7	)		(1.6	)		(325.0	)
Gross profit rate		15.9	%		17.3	%	(1.4		) pts.
Expense rates:
% of revenue		21.5			17.8			3.7
% of gross profit		135.0			102.8			32.2
Operating margin		(5.6	)		(0.5	)		(5.1	)
EMEA PT
Revenue from services (including fee-based income)	$	32.8		$	43.8			(25.0	) %		(9.7	) %
Fee-based income		4.4			6.9			(36.6	)		(21.2	)
Earnings from operations		(0.6	)		1.0			(155.6	)
Gross profit rate		28.6	%		29.8	%	(1.2		) pts.
Expense rates:
% of revenue		30.4			27.4			3.0
% of gross profit		106.1			92.1			14.0
Operating margin		(1.7	)		2.3			(4.0	)

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

	First Quarter
										Constant
										Currency
	2009			2008			Change			Change
APAC Commercial
Revenue from services (including fee-based income)	$	64.4		$	86.7			(25.7	) %		(11.6	) %
Fee-based income		2.2			4.3			(48.2	)		(40.5	)
Earnings from operations		(1.3	)		—		NM
Gross profit rate		14.7	%		16.7	%	(2.0		) pts.
Expense rates:
% of revenue		16.8			16.7			0.1
% of gross profit		114.2			99.6			14.6
Operating margin		(2.1	)		0.1			(2.2	)
APAC PT
Revenue from services (including fee-based income)	$	6.2		$	8.5			(26.8	) %		(16.7	) %
Fee-based income		1.0			1.4			(31.5	)		(21.7	)
Earnings from operations		(0.3	)		(0.2	)		(17.1	)
Gross profit rate		30.8	%		30.7	%	0.1		pts.
Expense rates:
% of revenue		34.7			33.2			1.5
% of gross profit		112.9			108.1			4.8
Operating margin		(4.0	)		(2.5	)		(1.5	)
OCG
Revenue from services (including fee-based income)	$	48.7		$	51.8			(6.1	) %		(3.2	) %
Fee-based income		6.6			6.1			8.4			16.5
Earnings from operations		(1.2	)		1.9			(164.6	)
Gross profit rate		32.7	%		33.1	%	(0.4		) pts.
Expense rates:
% of revenue		35.2			29.5			5.7
% of gross profit		107.5			89.2			18.3
Operating margin		(2.5	)		3.6			(6.1	)
Corporate Expense	$	(20.9	)	$	(24.5	)		14.5	%

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

	March 29,			December 28,			March 30,
	2009			2008			2008
Current Assets
Cash and equivalents	$	115.4		$	118.3		$	87.9
Trade accounts receivable, less allowances of $17.2, $17.0 and $18.4, respectively		706.3			815.8			931.4
Prepaid expenses and other current assets		55.8			62.0			58.3
Deferred taxes		29.2			31.9			27.0
Total current assets		906.7			1,028.0			1,104.6
Property and Equipment, Net		143.1			151.3			175.6
Noncurrent Deferred Taxes		39.8			40.0			43.2
Goodwill, Net		117.8			117.8			145.1
Other Assets		107.5			120.2			154.3
Total Assets	$	1,314.9		$	1,457.3		$	1,622.8
Current Liabilities
Short-term borrowings	$	16.9		$	35.2		$	47.8
Accounts payable and accrued liabilities		220.7			244.1			218.3
Accrued payroll and related taxes		209.5			243.2			275.9
Accrued insurance		25.5			26.3			22.6
Income and other taxes		26.3			51.8			60.7
Total current liabilities		498.9			600.6			625.3
Noncurrent Liabilities
Long-term debt		67.6			80.0			54.9
Accrued insurance		45.4			46.9			57.7
Accrued retirement benefits		59.2			61.6			75.1
Other long-term liabilities		15.2			15.3			16.2
Total noncurrent liabilities		187.4			203.8			203.9
Stockholders’ Equity
Common stock		40.1			40.1			40.1
Treasury stock		(110.5	)		(111.2	)		(113.4	)
Paid-in capital		36.3			35.8			34.5
Earnings invested in the business		660.5			676.0			780.8
Accumulated other comprehensive income		2.2			12.2			51.6
Total stockholders’ equity		628.6			652.9			793.6
Total Liabilities and Stockholders’ Equity	$	1,314.9		$	1,457.3		$	1,622.8
STATISTICS:
Working Capital	$	407.8		$	427.4		$	479.3
Current Ratio		1.8			1.7			1.8
Debt-to-capital %		11.9	%		15.0	%		11.5
Global Days Sales Outstanding		51			50			52

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KELLY SERVICES, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE 13 WEEKS ENDED MARCH 29, 2009 AND MARCH 30, 2008
(UNAUDITED)
(In millions of dollars)

	2009			2008
Cash flows from operating activities
Net (loss) earnings	$	(15.5	)	$	8.2
Noncash adjustments:
Depreciation and amortization		10.6			11.3
Provision for bad debts		1.5			1.5
Stock-based compensation		1.3			1.0
Other, net		(1.9	)		1.0
Changes in operating assets and liabilities		47.8			1.4
Net cash from operating activities		43.8			24.4
Cash flows from investing activities
Capital expenditures		(2.0	)		(7.3	)
Acquisition of companies, net of cash received		(0.2	)		(7.5	)
Other investing activities		—			(0.3	)
Net cash from investing activities		(2.2	)		(15.1	)
Cash flows from financing activities
Net change in revolving line of credit		(1.0	)		(4.3	)
Repayment of debt		(22.9	)		—
Dividend payments		—			(4.7	)
Purchase of treasury stock		—			(8.0	)
Stock options and other stock sales		—			—
Other financing activities		(18.7	)		(1.5	)
Net cash from financing activities		(42.6	)		(18.5	)
Effect of exchange rates on cash and equivalents		(1.9	)		4.3
Net change in cash and equivalents		(2.9	)		(4.9	)
Cash and equivalents at beginning of period		118.3			92.8
Cash and equivalents at end of period	$	115.4		$	87.9

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

	First Quarter (Commercial, PT and OCG)
					% Change
								Constant
	2009		2008		US$			Currency
Americas
United States	$	644.8	$	820.7		(21.4	)%		(21.4	)%
Canada		40.9		61.8		(33.8	)		(18.2	)
Puerto Rico		15.7		18.8		(16.8	)		(16.8	)
Mexico		14.7		17.7		(16.6	)		10.8
Total Americas		716.1		919.0		(22.1	)		(20.5	)
EMEA
United Kingdom		62.6		104.9		(40.4	)		(17.9	)
France		61.7		86.6		(28.8	)		(18.7	)
Switzerland		28.5		42.2		(32.4	)		(27.6	)
Italy		18.9		35.4		(46.5	)		(38.7	)
Germany		15.4		21.4		(27.8	)		(17.3	)
Russia		13.9		20.7		(33.0	)		(6.3	)
Norway		13.1		20.0		(34.6	)		(15.4	)
Portugal		11.7		—	NM			NM
Other		28.2		40.4		(30.2	)		(18.1	)
Total EMEA		254.0		371.6		(31.6	)		(16.8	)
APAC
Australia		20.4		35.7		(42.9	)		(22.3	)
Singapore		14.9		17.8		(16.1	)		(10.1	)
Malaysia		12.1		14.8		(18.0	)		(7.9	)
Other		25.1		29.5		(15.1	)		(2.9	)
Total APAC		72.5		97.8		(25.9	)		(12.1	)
Total Kelly Services, Inc.	$	1,042.6	$	1,388.4		(24.9	)%		(18.9	)%

8

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

	First Quarter
	2009						2008
	Amount			Per Share			Amount		Per Share
(Loss) earnings from continuing operations	$	(16.1	)	$	(0.46	)	$	8.0	$	0.23
U.K. restructuring charge (Note 1)		5.4			(0.15	)		—		—
(Loss) earnings from continuing operations excluding the U.K. restructuring charge, net of taxes	$	(10.7	)	$	(0.31	)	$	8.0	$	0.23

	First Quarter
	2009			2008			% Change
Selling, general and administrative expenses	$	206.1		$	237.0
U.K. restructuring charge (Note 1)		(5.4	)		—
Selling, general and administrative expenses excluding the U.K. restructuring charge	$	200.7		$	237.0			(15.3	%)
(Loss) earnings from operations	$	(30.6	)	$	12.9
U.K. restructuring charge (Note 1)		5.4			—
(Loss) earnings from operations excluding the U.K. restructuring charge	$	(25.2	)	$	12.9			(295.2	%)
EMEA Commercial selling, general and administrative expenses	$	46.6		$	57.2
U.K. restructuring charge (Note 1)		(5.4	)		—
EMEA Commercial selling, general and administrative expenses excluding the U.K. restructuring charge	$	41.2		$	57.2			(27.9	%)
EMEA Commercial (loss) earnings from operations	$	(12.1	)	$	(1.6	)
U.K. restructuring charge (Note 1)		5.4			—
EMEA Commercial (loss) earnings from operations excluding the U.K. restructuring charge	$	(6.7	)	$	(1.6	)		(325.0	%)

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

Management believes that the non-GAAP (Generally Accepted Accounting Principles) information excluding the U.K. restructuring charge is useful to understand the Company’s fiscal 2009 financial performance and increases comparability. Specifically, Management believes that excluding this item 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) The U.K. restructuring charge is comprised of facility and other exit costs associated with the disposal or closure of 37 branch locations related to the restructuring program.

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