SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 27, 1999
MANPOWER INC.
(Exact name of registrant as specified in its charter)
Wisconsin 1-10686 39-1672779
(State or other jurisdiction (Commission file number) (IRS Employer
of incorporation) Identification No.)
5301 North Ironwood Road
Milwaukee, Wisconsin 53217
(Address of principal executive offices)
Registrant's telephone number, including area code: (414) 961-1000
Item 5. Other Events.
On July 27, 1999, Manpower Inc. made available
certain operating unit results for the three and six
month periods ended June 30, 1999 and 1998.
Item 7. Exhibits.
Exhibit No. Description
99.1 Operating Unit Results
SIGNATURE
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused
this report to be signed on its behalf by the
undersigned hereunto duly authorized.
MANPOWER INC.
Date: July 26, 1999
/s/ Michael J. Van Handel
-------------------------------
Michael J. Van Handel
Senior Vice President - Chief Financial
Officer, Treasurer and Secretary
EXHIBIT INDEX
Exhibit No. Description
99.1 Operating Unit Results.
Exhibit 99.1
Manpower Inc.
Operating Unit Results
(in thousands)
3 Months Ended June 30, 6 Months Ended June 30,
1999 1998 1999 1998
Revenues from services:
United States (a) $ 560,092 $ 538,499 $1,075,921 $1,037,572
France 893,336 900,685 1,721,359 1,622,074
United Kingdom 264,704 254,473 537,507 502,707
Other Europe 357,212 262,207 684,134 493,045
Other Countries 252,253 180,239 483,912 353,571
$2,327,597 $2,136,103 $4,502,833 $4,008,969
Earnings before
income taxes:
United States $ 21,023 $ 20,284 $ 34,341 $ 35,544
France 21,302 18,150 34,665 30,216
United Kingdom 7,467 5,592 14,338 12,985
Other Europe 12,582 7,310 21,941 13,427
Other Countries 4,269 5,458 7,661 12,617
Other Corporate
Expenses (11,231) (11,859) (20,742) (23,091)
Non-recurring
expenses (28,000) - (28,000) -
Operating profit 27,412 44,935 64,204 81,698
Interest and other
expense (b) 5,047 4,352 9,887 7,496
Earnings before
taxes $ 22,365 $ 40,583 $ 54,317 $ 74,202
Foot notes:
(a) Total system wide sales in the United States,
which includes sales of Company-owned branches and
franchises were $930,526 and $894,951 for the three
months ended June 30, 1999 and 1998, respectively, and
$1,780,916 and $1,726,200 for the six months ended June
30, 1999 and 1998, respectively.
(b) The components of interest and other expense (income) were:
Net interest
expense $ 1,966 $ 2,417 $ 3,708 $ 3,337
Translation
loss (gain) (63) 1,169 913 2,407
Other 3,144 766 5,266 1,752
$ 5,047 $ 4,352 $ 9,887 $ 7,496
(c) The above presentation is for informational
purposes and is not intended to conform to U.S.
generally accepted accounting principles.