TBI TrueBlue Reports 2011 Fourth Quarter Results
PROVIDED BY Business Wire - 4:05 PM 02/08/2012
TACOMA, Wash.--(BUSINESS WIRE)-- TrueBlue, Inc. (TBI) today reported revenue for the thirteen-week fourth quarter of 2011 of $350 million, an increase of 12 percent compared to revenue of $312 million for the fourteen-week fourth quarter of 2010. Net income for the fourth quarter was $7.6 million, or $0.19 per diluted share, compared to net income of $4.0 million, or $0.09 per diluted share, for the fourth quarter of 2010.
“We had solid revenue growth this quarter and achieved operating income growth of more than 90 percent,” said TrueBlue (TBI) CEO Steve Cooper. “Our better-than-expected results were driven by additional demand in the energy industry and a successful holiday season. Our focus remains on our vertical market strategy, which includes our specialized expertise in the industries we serve, and increasing our value to local and national customers.”
For the first quarter of 2012, TrueBlue (TBI) estimates revenue in the range of $300 million to $310 million and estimates net income per diluted share of $0.00 to $0.05.
Management will discuss fourth quarter 2011 results on a conference call at 2 p.m. (PT), today, Wednesday, Feb. 8, 2012. The conference call and a copy of the slides for the call can be accessed on TrueBlue’s web site: www.trueblueinc.com
About TrueBlue (TBI)
TrueBlue, Inc. (TBI) is a leading provider of blue-collar staffing. In 2011, TrueBlue (TBI) connected approximately 325,000 people to work through the following brands: Labor Ready, Spartan Staffing, CLP Resources, PlaneTechs, and Centerline, and served approximately 175,000 businesses in the services, retail, wholesale, manufacturing, transportation, aviation, and construction industries. TrueBlue, Inc. (TBI)s headquartered in Tacoma, Wash. For more information, visit TrueBlue’s website at www.TrueBlueInc.com.
Forward-looking Statements
This document contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “may,” “will,” “should,” “expects,” “intends,” “projects,” “plans,” “believes,” “estimates,” “targets,” “anticipates,” and similar expressions are used to identify these forward-looking statements. Examples of forward-looking statements include statements relating to our future financial condition and operating results, as well as any other statement that does not directly relate to any historical or current fact. Forward-looking statements are based on our current expectations and assumptions, which may not prove to be accurate. These statements are not guarantees and are subject to risks, uncertainties, and changes in circumstances that are difficult to predict. Many factors could cause actual results to differ materially and adversely from these forward-looking statements. Examples of such factors can be found in our reports filed with the SEC, including the information under the heading ‘Risk Factors’ in our Annual Report on Form 10-K for the year ended Dec. 31, 2010 and in our most recent Quarterly Report on Form 10-Q for the quarter ended Sept. 30, 2011. Any forward-looking statement speaks only as of the date on which it is made, and we assume no obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except as required by law.
TRUEBLUE, INC. (TBI)
TBI TRUEBLUE INC
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AS OF 4:04 PM ET 02/08/12.
