TrueBlue Inc. (NYSE: TBI) reported Wednesday that first-quarter revenue rose 6.9% on a year-over-year basis to $239.9 million.

"The improvement in revenue trends was widespread across nearly every geography and industry we serve, outside of construction," CEO Steve Cooper said in a conference call with analysts. "It really feels we are in a classic recovery with light industrial leading the way."

Cooper said growth was particularly strong in the Tacoma WA-based company's manufacturing business, but that its construction business continued to struggle.

Cooper said first-quarter revenue from the Boeing Co. was about $37 million. TrueBlue had reported that contracts with Boeing accounted for approximately 13% of company revenue, or $136 million, for full-year 2009 as Boeing continued work on its 787 Dreamliner airplane.

First-quarter same-branch revenue rose by 12% on a year-over-year basis, CFO Derrek Gafford said. Excluding Boeing, same-branch revenue rose by 3%.

First-quarter gross margin narrowed to 25.5% from 27.9%. Gafford said the reduction was the result of higher state unemployment taxes, an increase in light industrial and work for large customers, and a price reduction given to Boeing.

TrueBlue posted a first-quarter net loss of $2.3 million compared with a net loss of $5.3 million in the first quarter of 2009.

The company said it closed eight branches in the first quarter leaving it with 747.

TruBlue estimated second-quarter 2010 revenue to be up around 9% compared with the second-quarter of last year. Gafford said the company expects some Boeing business to trail off in the second quarter. Excluding the step-down in Boeing business, second-quarter revenue would rise approximately 15%, he said.

TrueBlue's brands include Labor Ready, Spartan Staffing, CLP Resources, PlaneTechs and Centerline.

TrueBlue Inc. (NYSE: TBI)
For the first quarter ended March 26, 2010, compared with the same period in 2009.
Revenue: $239.9 million, +6.9%
Net loss: $2.3 million vs. net loss of $5.3 million