UPDATE 1-TrueBlue Q4 in line with Street, sees strong Q1 rev

Wed Feb 3, 2010 4:56pm EST

* Q4 EPS $0.05 vs est $0.05

* Rev down 13 pct

* Sees Q1 rev $230 mln-$240 mln vs est $215 mln

Feb 3 (Reuters) - TrueBlue Inc (TBI.N), a provider of temporary blue-collar workers, posted a quarterly profit that was in line with estimates helped by lower expenses and forecast first-quarter revenue above market estimates.

The company forecast a first-quarter loss of 6 cents to 11 cents a share on revenue of $230 million to $240 million.

Analysts on average were expecting a loss of 7 cents a share, before special items, on revenue of $215 million, according to Thomson Reuters I/B/E/S.

For the fourth quarter, net income was $2.1 million, or 5 cents a share, compared with a loss of $46 million or $1.08 a share, a year ago.

Revenue fell 13 percent to $262.2 million while selling, general and administrative expenses fell 17 percent.

Analysts on average were expecting earnings of 5 cents a share, before special items, on revenue of $250 million according to Thomson Reuters I/B/E/S.

Shares of the company closed at $14.73 Wednesday on the New York Stock Exchange. (Reporting by Divya Sharma in Bangalore; Editing by Jarshad Kakkrakandy)

FILED UNDER: