Slide 1: Q-3 2011 Results
Q-3 2011Results g TRUEBLUE
Slide 2: Cautionary Note About Forward-Looking Statements
Cautionary Note About Forward-Looking Statements: 2 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,” “believes,” “estimates,” “targets,” “a
Slide 3: Q-3 2011 Highlights
3 Q-3 2011 Highlights Revenue growth of 19% Increasing success in vertical market sales and service strategy Positive gross margin results Operating income grew 50%, excluding non-recurring Q3 2010 HIRE Act credits Purchased 3.4 million shares of common stock (Q3 through Oct. 21) TrueBlue™
Slide 4: Financial Summary
4 Financial Summary Q-3 2011 Q-3 2010 Growth % Revenue $ 371 $ 313 19% Gross profit $ 100 $ 85 18% % of Revenue 26.9% 27.0% SG&A expense $ 73 $ 64 14% % of Revenue 19.7% 20.6% Depreciation/amortization $ 4 $ 4 9% % of Revenue 1.1% 1.2% Income from operations $ 22 $ 16 38% % of Revenue 6.0% 5.2% Net
Slide 5: Revenue Trends
Revenue Trends 0% 5% 10% 15% 20% July Aug Sept Monthly Revenue Growth 0% 5% 10% 15% 20% Q-1 Q-2 Q-3 Q-4 Quarterly Revenue Growth TrueBlue™ (NYSE:TBI) 2011 Q3 Results 12% 21% 17% 18% 5 14% 19% 9% Forecast* 18% normal ized growth * * Q4 2011 is a 13-week quarter, compared to 14 weeks in Q4 2010. Q4 20
Slide 6: Vertical Market Strategy
6 Vertical Market Strategy Dedicated sales leaders with expertise in the specific industries we serve Specialized national sales and service teams deliver tailored solutions to our national customers Industry selling and service Best Practices used by branch staff to serve local customers bett
Slide 7: Gross Margin Change
7 Gross Margin Change TrueBlue™ (NYSE:TBI) 2011 Q3 Results 22% 24% 26% 28% Q3 2010 Actual 2010 HIRE Act Credits Pricing Q3 2011 Actual 27.0% 26.9% +0.3%-0.4%
Slide 8: SG&A Expense Change
8 SG&A Expense Change TrueBlue™ (NYSE:TBI) 2011 Q3 Results $0 $10 $20 $30 $40 $50 $60 $70 $80 Q3 2010 Actual Variable Expenses People Investments Other Q3 2011 Actual +$6M $64M +$2M +$1M $73M
Slide 9: Closing Comments
9 Closing Comments Expect strong revenue growth in Q4 13-week Q4 2011 revenue forecast is 9% growth, compared to 14-week Q4 2010—18% revenue growth on a comparable week basis Continued focus on strengthening vertical market capabilities Balanced approach to revenue growth and expense control