TrueBlue Q1 revenue up 45%
Adjusted net income per share* for the first quarter of 2015 was $0.20, up from $0.06 a year ago. Adjusted EBITDA* for the first quarter of 2015 was $19 million, an increase of 156 percent, compared to $8 million a year ago.
“This was a very good quarter for us, with record first quarter revenue and net income,” TrueBlue CEO Steve Coopersaid. “The recruitment process outsourcing and on-premise management businesses we acquired last summer are continuing to win in the marketplace and deliver impressive results. In addition, strategies we implemented over the past several months have produced adjusted EBITDA growth of 50 percent from legacy TrueBlue services.”
Cooper added that the company is well-positioned for continued growth with its expansion into the fast-growing RPO market and the favorable growth outlook for construction and small business.
“Businesses are finding the right mix of contingent and permanent employees to drive their businesses forward with our talent and flexible workforce solutions,” said Cooper. “We can offer more to customers than ever before, and also serve more customers because of the investments we’ve made. It’s a great time to be a leader in delivering talent solutions that improve the performance of our customers.”
The company estimates revenue in the range of $627 million to $642 million and adjusted net income per diluted share of $0.37 to $0.42 for the second quarter of 2015. Adjusted EBITDA is expected to be in the range of $32 million to $35 million for the second quarter.