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TrueBlue beats 1Q profit forecasts

TACOMA, Wash. (AP) _ TrueBlue Inc. (TBI) on Monday reported first-quarter net income of $4.7 million.

The Tacoma, Washington-based company said it had profit of 11 cents per share. Earnings, adjusted for costs related to mergers and acquisitions, came to 21 cents per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 12 cents per share.

The blue-collar temporary staffing company posted revenue of $568.2 million in the period.

For the current quarter ending in July, TrueBlue expects its per-share earnings to range from 38 cents to 43 cents.

The company said it expects revenue in the range of $600 million to $615 million for the fiscal second quarter.

TrueBlue shares have climbed 11 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $27.40, a climb of 47 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TBI at https://www.zacks.com/ap/TBI

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Keywords: TrueBlue, Earnings Report