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TrueBlue revenue falls 2%, but gross margin improves

February 06 2013

Fourth-quarter revenue fell 1.6 percent at TrueBlue Inc. (NYSE: TBI) to $344.6 million from $350.2 million in the same period last year. However, gross margin at the Tacoma, Wash.-based industrial staffing firm improved to 27.4 percent in the fourth quarter from 26.2 percent in the year-ago quarter.

“We had steady revenue growth of 4 percent this quarter, excluding the impact of one large project,” said CEO Steve Cooper. “Solid execution across our business, along with an improving construction market, contributed to our results.”

The company reported fourth-quarter net income of $7.4 million, a 2.0 percent decrease compared to $7.6 million in the year-ago quarter.

TrueBlue Inc. (NYSE: TBI)
For the fourth quarter ended Dec. 28, 2012, compared with the same period in 2011.
Revenue: $344.6 million, -1.6 percent
Net income: $7.4 million, -2.0 percent

For the full year ended Dec. 28, 2012, compared to 2011.
Revenue: $1.39 billion, +5.6 percent
Net income: $33.6 million, +9.2 percent

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