FINANCIALS: US TrueBlue sees revenue dip 12%
US blue-collar recruiter TrueBlue has seen revenue fall 12% year-on-year, according to first quarter 2017 results.
The results, published yesterday, reveal revenue of $568m (£440m), down from $646m in Q1 2016.
“Our team did a great job managing bill rates and reducing operating expenses to generate net income ahead of our expectation,” said TrueBlue CEO Steve Cooper, commenting on the group’s results.
“With the majority of the revenue growth headwind behind us from our former largest customer, we have set the stage for long-term growth.
“Businesses value the speed and specialised nature of our services that help them get the right talent into the right job, at the right time. The growing breadth of our workforce solutions, our new go-to-market brands, and innovative use of technology increasingly position us to meet the needs of businesses as they adapt to a constantly changing business environment.”
Looking ahead, TrueBlue estimates Q2 2017 revenue to range from $600m to $615m.
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