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UPDATE 1-TrueBlue Q1 loss narrows; sees profit in Q2
* Q1 loss/shr $0.05 vs $0.12 loss/shr last year
* Sees Q2 EPS between $0.03 to $0.08
* Revenue up 7 pct
April 21 (Reuters) - TrueBlue Inc (TBI.N), a provider of temporary blue-collar workers, posted a narrower quarterly loss, partly helped by lower expenses, and forecast a profit of 3 cents to 8 cents per share for the second quarter.
The company expects to post revenue in the range of $265 million to $275 million for the second quarter.
For the second quarter, analysts on average were expecting a profit of 5 cents a share, on revenue of $265.9 million, according to Thomson reuters I/B/E/S.
The company posted first-quarter loss of $2.3 million, or 5 cents a share, compared with a loss of $5.3 million, or 12 cents a share a year earlier.
Revenue rose 7 percent to $240 million, aided by a 15 percent growth in same branch revenue in March. Analysts on average were expecting a loss of 8 cents a share, on revenue of $237.3 million.
Selling, general and administrative expenses fell by about 10 percent to $61,214 in the first quarter.
TrueBlue closed eight branches in the first quarter, resulting in 747 branches in operation at the end of the quarter, it said in a statement.
Shares of the company closed up about 6 percent at $17.04 Tuesday on the New York Stock Exchange. (Reporting by Gowri Jayakumar in Bangalore; Editing by Don Sebastian)
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