Slide 1: Q1 2012 Results
TrueBlue™ (NYSE:TBI) 2011 Q2 Results 1 Q-1 2012 Results WORKING TOGETHER
Slide 2: Cautionary Note About Forward-Looking Statements
TrueBlue™ (NYSE:TBI) Q1 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: Q1 2012 Highlights
TrueBlue™ (NYSE:TBI) Q1 2012 Results 3 Q-1 2012 Highlights 13% revenue growth Solid execution across the business Continued success with vertical market sales strategy Strong results serving the energy industry Continued positive gross margin trends Operating margin expansion
Slide 4: Vertical Market Strategy
TrueBlue™ (NYSE:TBI) Q1 2012 Results 4 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 Local sales and service staff use industry best practices
Slide 5: Financial Summary
5 Financial Summary Q-1 2012 Q-1 2011 Growth % Revenue $ 311 $ 274 13% Gross profit $ 79 $ 70 13% % of Revenue 25.5% 25.5% SG&A expense $ 72 $ 65 11% % of Revenue 23.2% 23.8% Depreciation & amortization $ 5 $ 4 22% % of Revenue 1.5% 1.4% Income from operations $ 2 $ 1 151% % of Revenue 0.8% 0.3% Net
Slide 6: Revenue Trends
Revenue Trends* 0% 5% 10% 15% Jan Feb Mar Monthly Revenue Growth 0% 5% 10% 15% 20% 25% Q-2 Q-3 Q-4 Q-1 Quarterly Revenue Growth 12% 14% 13% 6 13% 19% 12% 22% comp- arable growth 13% TrueBlue™ (NYSE:TBI) Q1 2012 Results * All calculations based on comparison to same period a year ago. ** Represents g
Slide 7: SG&A Expense Change
TrueBlue™ (NYSE:TBI) Q1 2012 Results 7 SG&A Expense Change $0 $10 $20 $30 $40 $50 $60 $70 $80 Q1 2011 Variable People Investments Other Q1 2012 +$4M $65M +$2M +$1M $72M
Slide 8: Gross Margin Change
TrueBlue™ (NYSE:TBI) Q1 2012 Results Gross Margin Change 24.0% 24.5% 25.0% 25.5% 26.0% Q1 2011 2011 HIRE Act Credits Pricing/Other Q1 2012 25.5% 25.5% -0.4% +0.4% TrueBlue™ (NYSE:TBI) Q1 2012 Results
Slide 9: Closing Comments
TrueBlue™ (NYSE:TBI) Q1 2012 Results 9 Closing Comments Expect revenue growth in Q2 2012 of 9% – 12% Expect net income per diluted share of $0.22 - $0.27, growth of about 25% Expect incremental EBITDA* of approximately 15%** Vertical market approach is a key growth strategy Continued focus
Slide 10: Reconciliation of Net Income to EBITDA
TrueBlue™ (NYSE:TBI) Q1 2012 Results 10 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. EBITD