Good morning ladies and gentlemen and welcome to the Kelly Services Third Quarter Earnings Conference Call. All parties will be on a listen-only until the question-and-answer portion of the presentation. Today's call is being recorded at the request of Kelly Services. If anyone has any objections, you may disconnect at this time. I would now like to turn the meeting over to your host, Mr. George Corona, President and CEO. Sir, you may begin.

Thank you, John. Thank you and good morning. Welcome to Kelly Services 2017 third quarter conference call. With me on today's call is Olivier Thirot, our CFO. Let me remind you that any comments made during this call, including the Q&A include forward-looking statements about our expectations for future performance. Actual results could differ materially from those suggested by our comments, and we have no obligation to update these statements made on this call. Please refer to our SEC filings for a description of the risk factors that could influence the company's actual future performance. Before we review Kelly's third quarter results, let me point out that our revenue growth was impacted by a weakening of the U.S. dollar against several European currencies in the quarter. I'll present our year-over-year comparisons in nominal currency with the exception of our international performance which will be represented in constant currency. Now turning to Kelly's results, the third quarter was eventful for us on several fronts. We acquired Teachers On Call, a lean educational staffing company further strengthening our leadership positions in the K-12 market. We announced our planned implementation of a digital talent platform which will transform our front office and I am pleased to report that even in the face of unprecedented weather events we once again delivered good top-line growth, healthy operating earnings and solid returns for our shareholders. Kelly's third quarter revenue was $1.3 billion up 6.5% compared to last year. We achieved earnings from operations of $18.2 million compared to $18.8 million last year reflecting the addition of sales and recruiting resources and increase in performance based compensation and other factors that Olivier will walk you through in a few minutes. And diluted earnings per share were $0.58 compared to the $2.06 per share last year reflecting the…

Thank you, George. Revenue totaled $1.3 billion, up 6.5% compared to the third quarter last year. As George described, our revenue growth benefited from the weakening of the U.S. dollar against several other of the European currencies in the quarter. On a constant currency basis our total revenue increased 5.3% over the 6.5% in currency growth. So currency as reported to you 120 basis points in [indiscernible]. Our acquisition of Teachers On Call added about 30 basis points to our total revenue growth rate. Overall our Q3 employment [ph] performance reflects another quarter of improving trends [indiscernible] primary [indiscernible] growth in our locally digital staffing business in the Americas and internationally. Staffing placement fees, we are up nearly 7% year-over-year driven by good currency performance in international segment. Excluding the impact of currency fees were up 4%. Overall gross profit was up $16 million year-over-year or at 7.3%. Our gross profit rate was 17.4% up 20 basis points when compared to the third quarter last year. Our overall GP rate reflects ongoing structural improvement as we shift to higher margin solutions within our global talent solutions segment but to be offset by the impact of margin rate erosion in Americas and international staffing due to changes in businesses. SG&A expenses were up 8.3% year-over-year. About half of that increase comes from our corporate expenses which reflect a return to normalized levels of performance based compensation expense after 2016 to unbelievable low level of performance based compensation and litigation related expenses. Within our operations expense increases reached a good leverage on our third quarter GP growth even as we have made investments to catch the right market opportunities within our locally delivered staffing business in the U.S. and international markets. We continually focus on the expense on four efforts and generating…

Thank you, Olivier. It has been a good year so far for Kelly and we're pleased with the progress we are making after building strong momentum in the first two quarters, our third quarter performance confirmed that we are continuing to drive topline growth, even as we invest in talent, technology, and solutions that will accelerate our progress in the future. Our Americas staffing segment continues it forward momentum capturing strong revenue growth. Our local operating teams are more focused than ever. Our investments in targeted areas are yielding results and the acquisition of Teachers On Call further strengthens Kelly’s educational staffing leadership position in the K-12 [ph] market. We expect continued return on these investments as we move forward. Our international segment remains tightly focused on pursuing core specialties across Europe closely managing expenses as they actively capture new opportunities and our global talent solutions segment continues to deliver top and bottom line growth as we help companies navigate a more holistic approach to talent solutions. It was clearly a successful quarter. Our performance demonstrated our continued ability to grow the top-line, operate with increased efficiency and deliver a solid return to our shareholders, all while continuing to invest in the future. Our acquisition of Teachers On Call and our decision to implement a digital talent platform confirmed that we are not content to stop at short-term growth, and we are strategically positioning Kelly for the long-term as the world of work evolves. Looking beyond our reporting segments, our APAC joint venture has reached its one-year anniversary and has slowly met our expectations in terms of expanding our market presence and strengthening the Kelly personal relationship. Finally, we are pleased with our financial performance. Events in the third quarter also served as a reminder that Kelly has truly exceptional teams. I am very proud of how our colleagues came together to support one another through the natural disasters we encountered, all are staying true to the character of Kelly and meeting the needs of our customers and candidates. Olivier and I will now be happy to answer your questions.

[Operator instructions] We will go to line of Louis Moser with Mayfax Investors. Please go ahead.

Congratulations on a great quarter. I was wondering what is the sustainability of the first quarter going forward?

You mean the revenue and growth that we saw in the third quarter?

Yes, the growth revenue, earnings per share and so forth.

So, as we look forward not going any further than what we said for the fourth quarter we see continuing pace of growth going into the fourth quarter. And certainly, the fact that we have demonstrated that we are investing in sales and recruiting resources in our Americas segment predominantly, but also in international demonstrates that we think that there is continuing demand as we look out into the future.

Okay, thanks very much.

And Mr. Corona we have no further questions in queue.

Okay, thank you John and I thank everyone for being on the call.