Jul. 16, 2008 at 1:50pm

TrueBlue reports quarter results

Tacoma-based labor provider TrueBlue, Inc. has reported quarterly revenue of $371 million, an increase of 6 percent compared to the second quarter of 2007. Net income was $16.7 million, or  11 percent lower than this time last year.

"Economic pressures have created a broad-based reduction in demand across the geographies and industries we serve," said TrueBlue CEO Steve Cooper. "We responded this quarter by further reducing our cost structure through closing branches and reducing other expenses. We will continue our disciplined approach to controlling the costs of our operations as we manage through these difficult conditions."

The revenue growth for the quarter consisted of 18 percent growth from acquisitions completed within the last 12 months offset by a 12 percent decrease in organic revenue growth, which consists of total revenue growth less growth from acquisitions.

Posted in BE Daily, Retirement and Investing, Tacoma, Workforce by Steve Dunkelberger | Email Steve

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