MPS Group Announces First Quarter 2009 Results

JACKSONVILLE, Fla.--(Business Wire)--
MPS Group, Inc. (NYSE:MPS), a leading provider of specialty staffing, consulting
and business solutions, today announced financial results for the first quarter
ended March 31, 2009. First quarter revenue of $429 million and diluted net
income per common share of $0.02 were within the range of guidance previously
provided by management.

Revenue was lower in the first quarter, both sequentially and year over year, as
poor economic conditions continued to have a negative impact on demand for the
Company's services. Specifically, revenue was down 24% versus last year's first
quarter. Excluding the impact of acquisitions and changes in foreign currency
exchange rates, revenue was down 17% versus the first quarter of 2008. The first
quarter results were negatively affected by weak demand for permanent placement
services, which represented 3.2% of total revenue in the first quarter of 2009
versus 5.8% of total revenue in the prior year`s first quarter.

Revenue from the North American business units declined 18% in the first quarter
versus the prior year`s first quarter. While demand for staffing services was
weak across all of the Company's professional specialties in North America in
the first quarter, healthcare staffing was the least affected business unit.

Revenue from the International business units, composed primarily of operations
in the United Kingdom and Continental Europe, declined 34% versus the first
quarter of 2008. Excluding the impact of acquisitions and changes in foreign
currency exchange rates, revenue from the International business units declined
13%. The international professional staffing business unit, Badenoch & Clark,
saw declines in permanent placement fees; however, this was slightly offset by
market share gains within the public sector business in the United Kingdom.

First quarter gross margin of 26.9% was adversely affected by fewer permanent
placement fees, pricing pressure from clients, and a greater mix of business
from lower-margin public sector clients. However, the gross margin of Modis
International increased due to a shift in mix to higher-margin business.

During the first quarter of 2009, the Company generated operating cash flow of
$30 million. As of March 31, 2009, the Company had a cash balance of $115
million and borrowings of $7 million from its $250 million credit facility.

Timothy Payne, MPS Group Chief Executive Officer, stated, "During the first
quarter, the Company continued to experience lower demand for both permanent and
temporary professionals. Our near-term goals are to deliver the best financial
results possible, given current conditions, while continuing to strengthen our
company to thrive when business conditions begin to improve. As we enter the
second quarter, we are somewhat encouraged that sales activity appears to be
improving slightly versus the fourth quarter of last year."

"The Company continues to take appropriate steps to adjust our cost structure to
align with market conditions," added Robert Crouch, MPS Group Chief Financial
Officer. "Within this current environment, we estimate that second quarter
revenue and diluted net income per common share will be in the range of $380
million to $420 million and $0.00 to $0.03, respectively. We caution investors
that our ability to provide guidance on future results is impaired by uncertain
economic conditions."

Conference Call Scheduled Today

The live broadcast of MPS Group's conference call will begin at 10:00 a.m.
Eastern Time today. The link to this event may be found at the Company's
website: www.mpsgroup.com. If you prefer, you may listen to the call by dialing
(913) 981-5519, confirmation 1383435.

If you are unable to participate at that time, online and telephonic replays
will be available two hours after the call ends and will continue until 6:00
p.m. on May 5. To access the telephonic replay, please dial (719) 457-0820 and
enter 1383435 when prompted for the passcode. The link for the online replay may
also be found on the Company's website.

About MPS Group

MPS Group is a leading provider of staffing, consulting, and solutions in the
disciplines of information technology, finance and accounting, law, engineering,
marketing and creative, property, and healthcare. MPS Group delivers its
services to businesses and government entities in the United States, Europe,
Canada, Australia, and Asia. A Fortune 1000 company with headquarters in
Jacksonville, Florida, MPS Group trades on the New York Stock Exchange. For more
information about MPS Group, please visit www.mpsgroup.com.

Forward-Looking Statements

This press release contains forward-looking statements that are subject to
certain risks, uncertainties or assumptions described above and may be affected
by other factors, including, but not limited to: fluctuations in the economies
and financial markets in the U.S. and foreign countries where we do business and
in the Company's industry segments in particular; industry trends toward
consolidating vendor lists; the demand for the Company's services, including the
impact of changes in utilization rates; consolidation or bankruptcy of major
customers; the effect of competition, including the Company's ability to expand
into new markets and to remain profitable or maintain profit margins in the face
of pricing pressures; the Company's ability to retain significant existing
customers or obtain new customers; the Company's ability to recruit, place and
retain consultants and professional employees; the Company's ability to identify
and complete acquisition targets and to successfully integrate acquired
operations into the Company; possible changes in governmental laws and
regulations affecting the Company's operations, including possible changes to
laws and regulations relating to benefits for consultants and temporary
personnel, and possible increased regulation of the employer-employee
relationship; employment-related claims, costs, and other litigation matters;
adjustments during periodic tax audits; litigation relating to prior and current
transactions and activities; claims and liabilities asserted for the acts or
omissions of our temporary employees; fluctuations in interest rates or foreign
currency exchange rates; loss of key employees; fluctuations in the price of the
Company's common stock due to actual or anticipated changes in quarterly
operating results, financial estimates, statements by securities analysts, and
other events; and other factors discussed in the Company's filings with the
Securities and Exchange Commission. In some cases, you can identify
forward-looking statements by terminology such as: "will," "may," "should,"
"could," "expects," "intends," "plans," "hopes," "indicates," "projects," "can,"
"anticipates," "perhaps," "probably," "believes," "estimates," "appears,"
"predicts," "potential," "continues," "would," or "become," or other comparable
terminology or the negative of these terms or other comparable terminology.
Readers are urged to review and consider the matters discussed in "Item 1A. Risk
Factors" of the Company's Form 10-K for the year ended December 31, 2008 and
discussion of risks or uncertainties in subsequent filings with the Securities
and Exchange Commission.

Should one or more of these risks, uncertainties or other factors materialize,
or should underlying assumptions prove incorrect, actual results, performance or
achievements of the Company may vary materially from any future results,
performance or achievements expressed or implied by the forward-looking
statements. Forward-looking statements are based on beliefs and assumptions of
the Company's management and on information then currently available to
management. Undue reliance should not be placed on such forward-looking
statements. Forward-looking statements are not guarantees of performance. Such
forward-looking statements were prepared by the Company based upon information
available at the time of such statements. Forward-looking statements speak only
as of the date they are made, and the Company undertakes no obligation to update
publicly any of them in light of new information or future events.

MPS Group, Inc.
Unaudited Operating Highlights
(in thousands, except per share amounts)

Three Months Ended
March 31,
Operating Highlights: 2009 2008
Revenue:
North American Professional Services $ 151,719 $ 179,678
International Professional Services 99,801 147,820
North American Information Technology Services 127,307 158,871
International Information Technology Services 50,524 81,412
Total revenue 429,351 567,781

Gross profit:
North American Professional Services 42,350 54,753
International Professional Services 23,873 45,504
North American Information Technology Services 39,680 48,518
International Information Technology Services 9,723 13,495
Total gross profit 115,626 162,270

Operating income:
North American Professional Services 7,312 16,680
International Professional Services 1,686 9,276
North American Information Technology Services 3,388 10,825
International Information Technology Services 1,167 2,585
Operating income before unallocated corporate expenses 13,553 39,366
Unallocated corporate expenses 7,452 7,399
Total operating income 6,101 31,967
Other expense, net (1,107 ) (731 )
Income before provision for income taxes 4,994 31,236
Provision for income taxes 3,396 12,182
Net income $ 1,598 $ 19,054

Diluted net income per common share $ 0.02 $ 0.20
Diluted common shares outstanding 87,325 93,707

As of
March 31, December 31,
2009 2008

Cash and cash equivalents $ 115,398 $ 90,566
Accounts receivable, net of allowance 256,623 282,093
Other 25,515 24,198
Current assets 397,536 396,857
Long-term assets 387,678 399,035
Total assets $ 785,214 $ 795,892

Current liabilities $ 159,370 $ 173,147
Other 34,431 31,275
Stockholders' equity 591,413 591,470
Total liabilities and stockholders' equity $ 785,214 $ 795,892

Working capital $ 238,166 $ 223,710

MPS Group, Inc.
Unaudited Reconciliation of Non-GAAP Financial Measures to Most Comparable GAAP Financial Measures

Reconciliation of EBITDA to Net Income
(in thousands)

Three Months Ended
March 31,
2009 2008
EBITDA $ 10,896 $ 37,538
Depreciation and intangibles amortization 4,795 5,571
Operating income 6,101 31,967
Other expense, net (1,107 ) (731 )
Income before provision for income taxes 4,994 31,236
Provision for income taxes 3,396 12,182
Net income $ 1,598 $ 19,054

Reconciliation of Year-Over-Year Quarterly Revenue Growth Rate, Excluding
Acquisitions and the Effects of Changes in Foreign Currency Exchange Rates

MPS Total Total Healthcare
Group International N. American Business Unit
Revenue growth rate 1Q2008 to 1Q2009, excluding acquisitions and the effects of changes in currency -16.6 % -12.6 % -19.3 % -3.0 %
Revenue growth rate contributed from acquisitions 2.0 % 1.6 % 2.2 % 23.1 %
Revenue growth rate contributed from effects of changes in currency -9.8 % -23.4 % -0.5 % -
GAAP revenue growth rate 1Q2008 to 1Q2009 -24.4 % -34.4 % -17.6 % 20.1 %

Reconciliation of Year-Over-Year Quarterly Revenue Growth Rate, Excluding
Acquisitions and the Effects of Changes in Foreign Currency Exchange Rates

IT Professional IT Professional
International International N. American N. American
Revenue growth rate 1Q2008 to 1Q2009, excluding acquisitions and the effects of changes in currency -21.0 % -8.0 % -19.6 % -19.0 %
Revenue growth rate contributed from acquisitions 4.6 % - 0.7 % 3.4 %
Revenue growth rate contributed from effects of changes in currency -21.5 % -24.5 % -1.0 % -
GAAP revenue growth rate 1Q2008 to 1Q2009 -37.9 % -32.5 % -19.9 % -15.6 %

MPS Group, Inc.
Tyra Tutor, 904-360-2500
Senior Vice President - Corporate Development
tyra.tutor@mpsgroup.com

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