TBI FY 2013 Earnings Report — TrueBlue, Inc. Revenue & Financial Results | Market Cap Arena

TrueBlue, Inc.TBI

FY 2013 Earnings

Reported February 20, 2014

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2013	Prior Q	FY 2012	QoQ Change	YoY Change
Revenue	$1.7B	—	$1.4B	—	20.1%
Op. Income	$60M	—	$53M	—	12.3%
Gross Margin	26.5%	—	26.8%	—	-0.3pp
Net Margin	2.7%	—	2.4%	—	0.3pp
EPS (Diluted)	$1.11	—	$0.84	—	32.1%
Free Cash Flow	$73M	—	$34M	—	111.8%

Revenue Flow

Item	Amount
REVENUE	$1.7B
Cost of Revenue	$1.2B
GROSS PROFIT	$442M
R&D Expenses	$0
Selling & Marketing	$4M
General & Administrative	$358M
SG&A Expenses	$362M
Other Expenses	$20M
Operating Expenses	$383M
Cost & Expenses	$1.6B
OPERATING INCOME	$60M
Interest Income	$3M
Interest Expense	$1M
Other Income/Expenses	$1M
INCOME BEFORE TAX	$61M
Income Tax Expense	$16M
Net Income from Continuing Ops	$45M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$45M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$45M
D&A	$20M
EBIT	$67M
EBITDA	$87M
EPS	$1
EPS Diluted	$1

Income Statement

Item	Amount
REVENUE	$1.7B
Cost of Revenue	$1.2B
GROSS PROFIT	$442M
R&D Expenses	$0
Selling & Marketing	$4M
General & Administrative	$358M
SG&A Expenses	$362M
Other Expenses	$20M
Operating Expenses	$383M
Cost & Expenses	$1.6B
OPERATING INCOME	$60M
Interest Income	$3M
Interest Expense	$1M
Other Income/Expenses	$1M
INCOME BEFORE TAX	$61M
Income Tax Expense	$16M
Net Income from Continuing Ops	$45M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$45M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$45M
D&A	$20M
EBIT	$67M
EBITDA	$87M
EPS	$1
EPS Diluted	$1

Cash Flow Statement

Item	Amount
Net Income	$45M
Depreciation & Amortization	$20M
Stock-Based Compensation	$8M
Deferred Income Tax	-$4M
Other Non-Cash Items	$14M
Change in Working Capital	$2M
OPERATING CASH FLOW	$86M
Capital Expenditure	-$13M
Acquisitions (Net)	-$78M
Purchases of Investments	-$41M
Sales/Maturities of Investments	$20M
Other Investing Activities	-$14M
NET CASH FROM INVESTING	-$125M
Net Debt Issuance	$25M
Common Stock Repurchased	-$3M
Common Dividends Paid	$0
Other Financing Activities	$10M
NET CASH FROM FINANCING	$32M
FREE CASH FLOW	$73M
Net Change in Cash	-$8M

Balance Sheet

Item	Amount
Cash & Equivalents	$122M
Short-Term Investments	$15M
Net Receivables	$200M
Inventory	$0
Other Current Assets	$11M
TOTAL CURRENT ASSETS	$356M
PP&E (Net)	$54M
Goodwill	$82M
Intangible Assets	$26M
Long-Term Investments	-$112M
Tax Assets	$4M
Other Non-Current Assets	$309M
TOTAL NON-CURRENT ASSETS	$363M
TOTAL ASSETS	$719M
Account Payables	$30M
Short-Term Debt	$0
Deferred Revenue	-$2M
Other Current Liabilities	$3M
TOTAL CURRENT LIABILITIES	$121M
Long-Term Debt	$30M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$0
Other Non-Current Liabilities	$175M
TOTAL NON-CURRENT LIABILITIES	$205M
TOTAL LIABILITIES	$326M
Common Stock	$1.0K
Additional Paid-In Capital	$0
Retained Earnings	$391M
Treasury Stock	$0
Accum. Other Comp. Income	$2M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$393M
Minority Interest	$0
TOTAL EQUITY	$393M
TOTAL LIABILITIES & EQUITY	$719M
Total Debt	$30M
Net Debt	-$92M