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TrueBlue’s profits up 36 percent in third quarter

Post by John Gillie / The News Tribune on Oct. 26, 2011 at 4:25 pm |
October 26, 2011 4:26 pm

Profits at Tacoma-based temporary labor provider TrueBlue Inc. rose 36.2 percent in the third quarter compared with the same quarter last year, the company announced today.

Revenues were up 19 percent to $371 million for the three month period ending in September. In 2010, third quarter revenues were $313 million.

“We are pleased with our results, particularly the strong revenue growth we delivered this quarter,” said TrueBlue CEO Steve Cooper. “Operating income grew 50 percent compared to the same quarter last year. . . . This demonstrates the powerful operating leverage that exists in our business,” he said.

The company predicted rising revenues again in the fourth quarter. For the 13-week fourth quarter of 2011, TrueBlue estimated revenue of $335 million to $345 million, which is growth of about 9 percent compared with the 14-week fourth quarter of 2010. On a comparable week basis, this revenue growth would be about 18 percent.

Among TrueBlue’s temporary staffing brands are Labor Ready, Spartan Staffing and Plane Techs.

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