TBI FY 2011 Earnings Report — TrueBlue, Inc. Revenue & Financial Results | Market Cap Arena

TrueBlue, Inc.TBI

FY 2011 Earnings

Reported February 22, 2012

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2011	Prior Q	FY 2010	QoQ Change	YoY Change
Revenue	$1.3B	—	$1.1B	—	14.5%
Op. Income	$48M	—	$28M	—	69.3%
Gross Margin	26.4%	—	26.4%	—	-0.0pp
Net Margin	2.3%	—	1.7%	—	0.6pp
EPS (Diluted)	$0.73	—	$0.46	—	58.7%
Free Cash Flow	$21M	—	$35M	—	-40.2%

Revenue Flow

Item	Amount
REVENUE	$1.3B
Cost of Revenue	$969M
GROSS PROFIT	$347M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$283M
Other Expenses	$16M
Operating Expenses	$299M
Cost & Expenses	$1.3B
OPERATING INCOME	$48M
Interest Income	$1M
Interest Expense	$0
Other Income/Expenses	$1M
INCOME BEFORE TAX	$49M
Income Tax Expense	$19M
Net Income from Continuing Ops	$31M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$31M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$31M
D&A	$16M
EBIT	$51M
EBITDA	$67M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$1.3B
Cost of Revenue	$969M
GROSS PROFIT	$347M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$283M
Other Expenses	$16M
Operating Expenses	$299M
Cost & Expenses	$1.3B
OPERATING INCOME	$48M
Interest Income	$1M
Interest Expense	$0
Other Income/Expenses	$1M
INCOME BEFORE TAX	$49M
Income Tax Expense	$19M
Net Income from Continuing Ops	$31M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$31M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$31M
D&A	$16M
EBIT	$51M
EBITDA	$67M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$31M
Depreciation & Amortization	$16M
Stock-Based Compensation	$7M
Deferred Income Tax	-$2M
Other Non-Cash Items	$6M
Change in Working Capital	-$28M
OPERATING CASH FLOW	$31M
Capital Expenditure	-$10M
Acquisitions (Net)	$0
Purchases of Investments	-$88M
Sales/Maturities of Investments	$9M
Other Investing Activities	$62M
NET CASH FROM INVESTING	-$27M
Net Debt Issuance	-$302.0K
Common Stock Repurchased	-$59M
Common Dividends Paid	$0
Other Financing Activities	$2M
NET CASH FROM FINANCING	-$57M
FREE CASH FLOW	$21M
Net Change in Cash	-$54M

Balance Sheet

Item	Amount
Cash & Equivalents	$109M
Short-Term Investments	$0
Net Receivables	$156M
Inventory	$0
Other Current Assets	$6M
TOTAL CURRENT ASSETS	$281M
PP&E (Net)	$56M
Goodwill	$48M
Intangible Assets	$19M
Long-Term Investments	-$72M
Tax Assets	$5M
Other Non-Current Assets	$224M
TOTAL NON-CURRENT ASSETS	$280M
TOTAL ASSETS	$561M
Account Payables	$0
Short-Term Debt	$0
Deferred Revenue	$0
Other Current Liabilities	$112M
TOTAL CURRENT LIABILITIES	$112M
Long-Term Debt	$0
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$155M
TOTAL NON-CURRENT LIABILITIES	$155M
TOTAL LIABILITIES	$267M
Common Stock	$1M
Additional Paid-In Capital	$1.0K
Retained Earnings	$291M
Treasury Stock	$0
Accum. Other Comp. Income	$3M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$294M
Minority Interest	$0
TOTAL EQUITY	$294M
TOTAL LIABILITIES & EQUITY	$561M
Total Debt	$0
Net Debt	-$109M