Labor Ready (NYSE:LRW)
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Labor Ready, Inc. (NYSE: LRW) CEO and President Steve Cooper and CFO
Derrek Gafford will review the company’s
current strategies and operational trends with analysts and portfolio
managers at 11:30 a.m. (ET), today in New York City. The presentation
will be available on the Labor Ready website (http://www.laborready.com)
under Investor Relations.
In anticipation of management’s presentation,
the company reaffirmed its previously released forecast for the fourth
quarter of 2006. The company estimates revenue for the fourth quarter to
be between $342 million and $345 million. Estimated net income per
diluted share for the fourth quarter is expected to be between $.29 and
$.31.
Management also provided their initial outlook for fiscal year 2007. Net
income per share for the year is estimated to be between $1.40 and
$1.45. Estimated revenue for the year is expected to be in the range of
$1.395 to $1.425 billion. Labor Ready also announced plans to open
approximately 40 branch offices in 2007.
The company expects to release its financial results for the fourth
quarter ending Dec. 29, 2006, before the market opens on Feb. 1, 2007,
and will host a conference call at 8 a.m. (PT) on Feb. 1, 2007. Details
for the conference call will be announced separately.
This news release contains forward-looking statements, such as
statements about the ranges of revenues, gross margins and net income
anticipated for future periods, improvements in safety and workers’
compensation claims and costs, strategies for increasing revenue and net
income, and other factors that may affect Labor Ready’s
financial results and operations in the future. Labor Ready’s
actual results are, however, subject to a number of risks, including
without limitation the following: 1) national and global economic
conditions; 2) Labor Ready’s ability to
continue to attract and retain customers and maintain profit margins in
the face of new and existing competition; 3) potential new laws and
regulations that could have a materially adverse effect on Labor Ready’s
operations and financial results; 4) significant labor disturbances
which could disrupt industries Labor Ready serves; 5) increased costs
and collateral requirements in connection with Labor Ready’s
insurance obligations, including workers’
compensation insurance; 6) the adequacy of Labor Ready’s
financial reserves; 7) Labor Ready’s
continuing ability to comply with financial covenants in its lines of
credit and other financing agreements; 8) Labor Ready’s
ability to attract and retain competent employees in key positions or to
find temporary employees or skilled trade workers to fulfill the needs
of our customers; 9) Labor Ready’s ability to
successfully complete and integrate acquisitions that it may make from
time to time; 10) execute strategies for acquired companies; and 11)
other risks described in Labor Ready’s
filings with the Securities and Exchange Commission, including its most
recent Form 10-K and Form 10-Q filings.
About Labor Ready
Labor Ready is an international provider of temporary employees for
manual labor, light industrial and skilled construction trades,
operating under the brand names of Labor Ready, Workforce, Spartan
Staffing, and CLP Resources. Labor Ready’s
customers are primarily small- to mid-sized businesses in the
construction, warehousing, hospitality, landscaping, transportation,
light manufacturing, retail, wholesale, facilities and sanitation
industries. Annually, Labor Ready serves approximately 300,000 customers
and puts more than 600,000 people to work through its more than 925
branch offices in the United States, Canada, and the United Kingdom. For
additional information, visit Labor Ready’s
website at www.laborready.com.
Labor Ready, Inc. (NYSE: LRW) CEO and President Steve Cooper and
CFO Derrek Gafford will review the company's current strategies and
operational trends with analysts and portfolio managers at 11:30 a.m.
(ET), today in New York City. The presentation will be available on
the Labor Ready website (http://www.laborready.com) under Investor
Relations.
In anticipation of management's presentation, the company
reaffirmed its previously released forecast for the fourth quarter of
2006. The company estimates revenue for the fourth quarter to be
between $342 million and $345 million. Estimated net income per
diluted share for the fourth quarter is expected to be between $.29
and $.31.
Management also provided their initial outlook for fiscal year
2007. Net income per share for the year is estimated to be between
$1.40 and $1.45. Estimated revenue for the year is expected to be in
the range of $1.395 to $1.425 billion. Labor Ready also announced
plans to open approximately 40 branch offices in 2007.
The company expects to release its financial results for the
fourth quarter ending Dec. 29, 2006, before the market opens on Feb.
1, 2007, and will host a conference call at 8 a.m. (PT) on Feb. 1,
2007. Details for the conference call will be announced separately.
This news release contains forward-looking statements, such as
statements about the ranges of revenues, gross margins and net income
anticipated for future periods, improvements in safety and workers'
compensation claims and costs, strategies for increasing revenue and
net income, and other factors that may affect Labor Ready's financial
results and operations in the future. Labor Ready's actual results
are, however, subject to a number of risks, including without
limitation the following: 1) national and global economic conditions;
2) Labor Ready's ability to continue to attract and retain customers
and maintain profit margins in the face of new and existing
competition; 3) potential new laws and regulations that could have a
materially adverse effect on Labor Ready's operations and financial
results; 4) significant labor disturbances which could disrupt
industries Labor Ready serves; 5) increased costs and collateral
requirements in connection with Labor Ready's insurance obligations,
including workers' compensation insurance; 6) the adequacy of Labor
Ready's financial reserves; 7) Labor Ready's continuing ability to
comply with financial covenants in its lines of credit and other
financing agreements; 8) Labor Ready's ability to attract and retain
competent employees in key positions or to find temporary employees or
skilled trade workers to fulfill the needs of our customers; 9) Labor
Ready's ability to successfully complete and integrate acquisitions
that it may make from time to time; 10) execute strategies for
acquired companies; and 11) other risks described in Labor Ready's
filings with the Securities and Exchange Commission, including its
most recent Form 10-K and Form 10-Q filings.
About Labor Ready
Labor Ready is an international provider of temporary employees
for manual labor, light industrial and skilled construction trades,
operating under the brand names of Labor Ready, Workforce, Spartan
Staffing, and CLP Resources. Labor Ready's customers are primarily
small- to mid-sized businesses in the construction, warehousing,
hospitality, landscaping, transportation, light manufacturing, retail,
wholesale, facilities and sanitation industries. Annually, Labor Ready
serves approximately 300,000 customers and puts more than 600,000
people to work through its more than 925 branch offices in the United
States, Canada, and the United Kingdom. For additional information,
visit Labor Ready's website at www.laborready.com.