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Tacoma’s TrueBlue reports higher revenues, but still records loss

Post by John Gillie / The News Tribune on April 24, 2013 at 2:16 pm |
April 24, 2013 2:18 pm

Tacoma-based temporary labor provider TrueBlue Inc. today reported revenue increased some 11 percent in the first quarter of 2013 but a $1.5 million profit in last year’s first quarter turned into a $1.1 million loss for the first quarter this year.

First quarter revenues were $346 million  compared with $311 million for the same quarter in in 2012.

The first quarter this year included one-time costs associated with the acquisition of Florida-based MDT Personnel.  TrueBlue said the melding of the two companies’ operations is proceeding smoothly with full integration of operations on schedule for the second quarter this year.

“We are pleased with our revenue growth in the quarter,” said TrueBlue CEO Steve Cooper. “We saw steady growth in demand for our services across most industries and locations, and we are especially encouraged by an increase in construction activity. Our recent growth across a broad mix of business is building a more sustainable revenue stream to replace the large customer project that is winding down.”

For the second quarter,  the company estimated revenue  of $415 million to $425 million and net income per share of 22 to 27 cents.

TrueBlue brands include  Labor Ready, Spartan Staffing, CLP, PlaneTechs and Centerline

 

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