TACOMA, Wash.--(BUSINESS WIRE)--Jul 30, 2018--TrueBlue, Inc. (NYSE:TBI) announced today its fiscal second quarter 2018 results.

Revenue was $614 million, an increase of 1 percent, compared to revenue of $610 million in the fiscal second quarter of 2017. Organic revenue 1 excluding the divested PlaneTechs business increased by 2 percent. Net income per diluted share was $0.44, an increase of 42 percent, compared to $0.31 in the fiscal second quarter of 2017. Adjusted net income per diluted share 2 was $0.57, an increase of 36 percent, compared to $0.42 in the fiscal second quarter of 2017.

“We are pleased with this quarter’s results which included revenue growth at PeopleReady, operating margin expansion and strong EPS growth,” TrueBlue CEO Steve Cooper said. “We experienced widespread revenue improvements in our PeopleReady business driven by a consistent focus on business development activity. Efforts to reduce our cost of services across all segments continue to produce value resulting in our tenth consecutive quarter of gross margin expansion.”

“We made strong progress advancing our key strategies. We acquired TMP Holdings in the United Kingdom, the world’s second largest RPO market. This acquisition increases our ability to win multi-continent engagements by adding a physical presence in Europe, referenceable clients and employer branding capabilities. On the technology front, JobStack TM, our PeopleReady mobile staffing technology, is transforming how people find work and how businesses find people. Affinix TM, our PeopleScout proprietary talent acquisition technology, is receiving praise from customers and a high level of interest from prospective clients.”

2018 Outlook

The company estimates revenue for the fiscal third quarter of 2018 will range from $662 million to $677 million. It also estimates net income per diluted share will range from $0.54 to $0.60 and adjusted net income per diluted share will range from $0.75 to $0.81.

Management will discuss fiscal second quarter 2018 results on a webcast at 2 p.m. PT (5 p.m. ET), today, Monday, July 30. The webcast can be accessed on TrueBlue’s website:  www.trueblue.com.

About TrueBlue:

TrueBlue (NYSE: TBI) is a leading provider of specialized workforce solutions that help clients achieve business growth and improve productivity, while connecting approximately 740,000 people with work in 2017. TrueBlue's PeopleReady segment offers industrial staffing services, PeopleManagement offers contingent and productivity-based on-site industrial staffing services, and PeopleScout offers Recruitment Process Outsourcing (RPO) and Managed Service Provider (MSP) solutions to a wide variety of industries. Learn more at www.trueblue.com.

Forward-looking Statements

This document contains forward-looking statements relating to our plans and expectations, all of which are subject to risks and uncertainties. Such statements are based on management’s expectations and assumptions as of the date of this release and involve many risks and uncertainties that could cause actual results to differ materially from those expressed or implied in our forward-looking statements including: (1) national and global economic conditions, (2) our ability to attract and retain customers, (3) our ability to maintain profit margins, (4) new laws and regulations that could have a material effect on our operations or financial results, (5) our ability to successfully complete and integrate acquisitions (6) our ability to attract sufficient qualified candidates and employees to meet the needs of our customers, (7) our ability to successfully execute on business strategies and initiatives such as the consolidation of our service lines and leveraging of mobile technology, and (8) uncertainty surrounding the interpretation and application of the recent 2017 Tax Cuts and Jobs Act and any reduction or change in tax credits we utilize, including the Work Opportunity Tax Credit. Other information regarding factors that could affect our results is included in our Securities Exchange Commission (SEC) filings, including the company's most recent reports on Forms 10-K and 10-Q, copies of which may be obtained by visiting our website at www.trueblue.com under the Investor Relations section or the SEC's website at www.sec.gov. We assume no obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise, except as required by law. Any other reference to future financial estimates are included for informational purposes only and subject to risk factors discussed in our most recent filings with the SEC.

In addition, we use several non-GAAP financial measures when presenting our financial results in this document. Please refer to the reconciliations between our GAAP and non-GAAP financial measures in the appendix to this document and on our website at www.trueblue.com under the Investor Relations section for a complete perspective on both current and historical periods. The presentation of these non-GAAP financial measures is used to enhance the understanding of certain aspects of our financial performance. It is not meant to be considered in isolation, superior to, or as a substitute for the directly comparable financial measures prepared in accordance with U.S. GAAP, and may not be comparable to similarly titled measures of other companies.

TRUEBLUE, INC. NON-GAAP FINANCIAL MEASURES AND NON-GAAP RECONCILIATIONS

In addition to financial measures presented in accordance with U.S. GAAP, we monitor certain non-GAAP key financial measures. The presentation of these non-GAAP financial measures is used to enhance the understanding of certain aspects of our financial performance. It is not meant to be considered in isolation, superior to, or as a substitute for the directly comparable financial measures prepared in accordance with U.S. GAAP, and may not be comparable to similarly titled measures of other companies.

This article has been truncated. You can see the rest of this article by visiting http://www.businesswire.com/news/home/20180730005017/en.