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US- TrueBlue revenue up 19%

July 25 2013

Second-quarter revenue rose 19.2 percent at TrueBlue Inc. (NYSE: TBI) to $422.3 million. TrueBlue acquired MDT Personnel, a large industrial staffing firm, in the first quarter of 2013 and its integration into the company is now complete.

“Overall, demand for our specialized blue-collar staffing solutions grew across most industries and locations,” CEO Steve Cooper said.

Gross margin at the Tacoma, Wash.-based industrial staffing firm inched upward to 26.5 percent from 26.4 percent in the second quarter.

Net income rose 21.3 percent to $12.5 million in the second quarter from $10.3 million in the year-ago quarter.

With both the anticipated revenue decline in a large project and MDT integration costs mostly behind it, TrueBlue expects to see higher levels of profit growth during the remainder of the year; the company estimates revenue in the range of $450 million to $460 million for the third quarter of 2013.

The company’s brands include Labor Ready, Spartan Staffing, CLP Resources, PlaneTechs and Centerline.

TrueBlue Inc. (NYSE: TBI)
 For the second quarter ended June 28, 2013, compared with the same period last year.

 Revenue: $422.3 million, +19.2 percent

 Net Income: $12.5 million, +21.3 percent

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