FINANCIALS: TrueBlue optimistic despite drop in revenue

US blue-collar recruiter TrueBlue has seen revenue fall 9% year-on-year, according to a results statement for Q4 2017.

The results, published this morning, reveal revenue of $670m (£483m), down from $735m in Q4 2016, with net income per diluted share of $0.40 compared to $0.43 in the fourth quarter of 2016.

Despite the drop in revenue, CEO Steve Cooper pointed to “improving fundamentals this quarter driven by strong execution across the business”.

“The broad-based improvements in the PeopleReady and PeopleManagement third quarter revenue trends continued throughout the fourth quarter, and PeopleScout delivered another quarter of double-digit growth.

“We also made additional progress with our digital strategy. Adoption of JobStack, our PeopleReady mobile app, continued to climb, and we also launched Affinix in our PeopleScout business, a next-generation technology that improves the candidate experience and streamlines the sourcing process.”

Looking ahead, the firm adds it estimates revenue for the fiscal first quarter of 2018 will range from $557m to $572m and net income per diluted share will range from $0.03 to $0.11.

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