TBI FY 2007 Earnings Report — TrueBlue, Inc. Revenue & Financial Results | Market Cap Arena

TrueBlue, Inc.TBI

FY 2007 Earnings

Reported February 19, 2008

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2007	Prior Q	FY 2006	QoQ Change	YoY Change
Revenue	$1.4B	—	$1.3B	—	2.7%
Op. Income	$94M	—	$104M	—	-10.2%
Gross Margin	31.9%	—	32.1%	—	-0.2pp
Net Margin	4.8%	—	5.7%	—	-0.9pp
EPS (Diluted)	$1.44	—	$1.45	—	-0.7%
Free Cash Flow	$78M	—	$95M	—	-18.4%

Revenue Flow

Item	Amount
REVENUE	$1.4B
Cost of Revenue	$944M
GROSS PROFIT	$442M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$336M
Other Expenses	$12M
Operating Expenses	$348M
Cost & Expenses	$1.3B
OPERATING INCOME	$94M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$11M
INCOME BEFORE TAX	$105M
Income Tax Expense	$38M
Net Income from Continuing Ops	$66M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$66M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$66M
D&A	$12M
EBIT	$94M
EBITDA	$106M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$1.4B
Cost of Revenue	$944M
GROSS PROFIT	$442M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$336M
Other Expenses	$12M
Operating Expenses	$348M
Cost & Expenses	$1.3B
OPERATING INCOME	$94M
Interest Income	$0
Interest Expense	$0
Other Income/Expenses	$11M
INCOME BEFORE TAX	$105M
Income Tax Expense	$38M
Net Income from Continuing Ops	$66M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$66M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$66M
D&A	$12M
EBIT	$94M
EBITDA	$106M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$66M
Depreciation & Amortization	$12M
Stock-Based Compensation	$0
Deferred Income Tax	-$9M
Other Non-Cash Items	$15M
Change in Working Capital	$13M
OPERATING CASH FLOW	$99M
Capital Expenditure	-$21M
Acquisitions (Net)	-$77M
Purchases of Investments	-$191M
Sales/Maturities of Investments	$272M
Other Investing Activities	$11M
NET CASH FROM INVESTING	-$6M
Net Debt Issuance	-$909.0K
Common Stock Repurchased	-$150M
Common Dividends Paid	$0
Other Financing Activities	$1M
NET CASH FROM FINANCING	-$145M
FREE CASH FLOW	$78M
Net Change in Cash	-$51M

Balance Sheet

Item	Amount
Cash & Equivalents	$57M
Short-Term Investments	$11M
Net Receivables	$140M
Inventory	$0
Other Current Assets	$22M
TOTAL CURRENT ASSETS	$230M
PP&E (Net)	$45M
Goodwill	$71M
Intangible Assets	$41M
Long-Term Investments	$0
Tax Assets	$10M
Other Non-Current Assets	$149M
TOTAL NON-CURRENT ASSETS	$316M
TOTAL ASSETS	$545M
Account Payables	$25M
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$64M
TOTAL CURRENT LIABILITIES	$115M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$147M
TOTAL NON-CURRENT LIABILITIES	$147M
TOTAL LIABILITIES	$261M
Common Stock	$1.0K
Additional Paid-In Capital	$1.0K
Retained Earnings	$280M
Treasury Stock	$0
Accum. Other Comp. Income	$4M
Other Equity	-$1.0K
TOTAL STOCKHOLDERS' EQUITY	$284M
Minority Interest	$0
TOTAL EQUITY	$284M
TOTAL LIABILITIES & EQUITY	$545M
Total Debt	$0
Net Debt	-$57M