TrueBlue, Inc. today announced its 2016 fourth quarter results, including a revenue of $735 million.
That’s a decrease of 9 percent compared to 2015 Q4. The Tacoma staffing company’s net income per diluted share — $0.43 for the quarter — was also down, compared to $0.67 per diluted share for the fourth quarter of 2015.
On a comparable 13-week basis, however, revenue for the fiscal 14-week fourth quarter of 2016 was $701 million, a decrease of 14 percent, or an increase of 5 percent excluding the company’s largest customer. On a comparable 13-week basis, adjusted net income per diluted share3 was $0.58, or $0.57 excluding the company’s largest customer, compared to $0.67 per diluted share for the fiscal fourth quarter of 2015, or $0.48 excluding the company’s largest customer.
“Revenue on a comparable 13-week basis was up five percent excluding our largest customer,” TrueBlue CEO Steve Cooper said. “We remain highly focused on profit margins through disciplined pricing, ongoing cost containment, and capturing synergies with our acquired businesses.
“Our recent acquisitions have accelerated our growth strategy. The recruitment process outsourcing business acquired from Aon Hewitt makes PeopleScout the RPO leader in the U.S., as well as a global leader, positioning us for continued long-term success in this fast-growing, high-margin business. The SIMOS acquisition enhances our PeopleManagement business with productivity-based pricing that is highly appealing to customers.
“Along with our recent branding changes,” Cooper added, “these acquisitions position us better than ever to respond to a broad assortment of customer needs, whether it’s on-demand staffing from PeopleReady, strategic workforce management solutions from PeopleManagement, RPO from PeopleScout, or a total talent solution.”