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First-quarter revenue rose 13.4 percent at TrueBlue Inc. (NYSE: TBI) to $311.2 million from $274.3 million in the year-ago quarter. Gross margin at the Tacoma, Wash.-based industrial staffing firm was unchanged from the year-ago quarter at 25.5 percent.
“Customers continue to want a flexible workforce and a partner to increase productivity,” said CEO Steve Cooper. “We are meeting their needs with our vertical market strategy, which centers on enhancing the value we provide to customers through our expertise in their industries.”
First-quarter net income rose to $1.5 million, up 99.7 percent from net income of $766,000 in the year-ago quarter.
The company estimates second-quarter revenue of $350 million to $360 million, a year-over-year increase of between 9.3 percent and 12.4 percent.
TrueBlue’s brands include Labor Ready, Spartan Staffing, CLP Resources, PlaneTechs and Centerline.
TrueBlue Inc. (NYSE: TBI)
For the first quarter ended March 31, 2012, compared with the same period last year.
Revenue: $311.2 million, +13.4 percent
Net income: $1.5 million, +99.7 percent