Slide 1: Q-2 2012 Results
TrueBlue™ (NYSE:TBI) 2011 Q2 Results 1 Q-2 2012 Results
Slide 2: Cautionary Note About Forward-Looking Statements
TrueBlue™ (NYSE:TBI) Q2 2012 Results Cautionary Note About Forward-Looking Statements: This document contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as “may,” “will,” “should,” “expects,” “intends,” “projects,” “plans,” “be
Slide 3: Q-2 2012 Highlights
TrueBlue™ (NYSE:TBI) Q2 2012 Results 3 Q-2 2012 Highlights Solid execution across the business 11% revenue growth Continued success serving the energy industry Strong incremental EBITDA growth(1) (2) Increasing gross margin(2) Continued operating leverage improvement 1) Incremental EBITD
Slide 4: Financial Summary
4 Financial Summary Q-2 2012 Q-2 2011 Growth % Revenue $ 354 $ 320 11% Gross profit $ 94 $ 85 10% % of Revenue 26.4% 26.7% SG&A expense $ 72 $ 68 6% % of Revenue 20.2% 21.1% Depreciation & amortization $ 5 $ 4 22% % of Revenue 1.3% 1.2% Income from operations $ 17 $ 14 25% % of Revenue 4.9% 4.3% Net
Slide 5: Revenue Trends
Revenue Trends* 0% 5% 10% 15% 20% 25% April May June Monthly Revenue Growth 0% 5% 10% 15% 20% 25% Q-3 '11 Q-4 '11 Q-1 '12 Q-2 '12 Quarterly Revenue Growth 8% 11% 12% 5 19% 12% 22% comp- arable growth** 13% TrueBlue™ (NYSE:TBI) Q2 2012 Results 13% * All calculations based on comparison to same period
Slide 6: Gross Margin Change
TrueBlue™ (NYSE:TBI) Q2 2012 Results 6 Gross Margin Change 25.0% 25.5% 26.0% 26.5% 27.0% Q2 2011 Prior Year Payroll Tax Matter* Pricing/Other Q2 2012 26.7% 26.4% -0.5% +0.2% TrueBlue™ (NYSE:TBI) Q2 2012 Results * Represents $1.6M, or 50 basis points, of gross margin benefit received in Q2 2011 from
Slide 7: SG&A Expense Change
TrueBlue™ (NYSE:TBI) Q2 2012 Results 7 SG&A Expense Change $0 $10 $20 $30 $40 $50 $60 $70 $80 Q2 2011 Variable Q2 2012 +$4M $68M $72M
Slide 8: Closing Comments
TrueBlue™ (NYSE:TBI) Q2 2012 Results 8 Expect revenue growth in Q3 2012 of 4% – 6% Expect net income per diluted share of $0.34 - $0.39 Continued focus on incremental EBITDA ** ** Incremental EBITDA is calculated by dividing the EBITDA dollar growth from the same period a year ago by the reven
Slide 9: Reconciliation of Net Income to EBITDA
TrueBlue™ (NYSE:TBI) Q2 2012 Results 9 Reconciliation of Net Income to EBITDA $ $ $ $ $ $ $ $ $ $ $ $ $ $ * EBITDA is non-GAAP financial measure which excludes interest, taxes, depreciation and amortization from net income. EBITDA is a key measure used by management in evaluating performance. EBITDA