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TrueBlue Reports Fourth Quarter Results

TrueBlue Reports Fourth Quarter Results
TrueBlue, Inc. has reported its results for the 14-week fourth quarter and 53-week fiscal year ended Dec. 31, 2010. For the quarter, revenue was $312 million, an increase of 19%, from $262 million for the 13-week fourth quarter of 2009. Excluding the additional week in the fourth quarter of 2010, revenue growth would have been 14% but the impact to net income was immaterial due to the standard operating expenses of that week. Net income for the fourth quarter was $4.0 million, an increase of about 85% compared to net income of $2.1 million for the fourth quarter of 2009.
"We generated strong revenue growth in the fourth quarter due to wide-spread demand across most industries and geographic areas," said TrueBlue CEO Steve Cooper. "We are encouraged with the opportunity to continue expanding our profit margins in 2011."
Cooper added, "I am extremely proud of our team for delivering outstanding results in 2010. We more than doubled our profits. I am constantly impressed with the calibre of our people at every level of our company and we are committed to investing in their continued development."
For the first quarter of 2011, TrueBlue estimates revenue in the range of $260 million to $270 million.

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