TrueBlue News Release (10/24/12)

TrueBlue Inc. reported revenue for the third quarter of 2012 of $379 million, an increase of 2%, compared with revenue of $371 million for the third quarter of 2011. Net income for the quarter was $14.3 million, compared with net income of $13.9 million for the third quarter of 2011.

“TrueBlue achieved revenue and earnings per share growth this quarter, while managing through an increasingly difficult economic environment,” TrueBlue chief executive officer Steve Cooper says. “Demand for labor in manufacturing has declined and growth trends softened across most of the other industries we serve. Our results have also been adversely impacted by the anticipated decline of a large customer project. For the fourth quarter, we anticipate the uncertain economic conditions to continue along with further decline from this project.”

TrueBlue estimates revenue in the range of $332 million to $342 million for the fourth quarter.