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Article: Labor Ready Announces Record Second Quarter Results; Net Income Increases 52 Percent on a 10 Percent Rise in Revenues.
- Article from:
- Business Wire
- Article date:
- July 20, 2005
CopyrightCOPYRIGHT 2005 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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TACOMA, Wash. -- Labor Ready, Inc. (NYSE:LRW) reported revenue for the second quarter ended July 1, 2005 increased 10.5 percent to $295.2 million compared to revenue of $267.1 million for the second quarter of 2004. Net income for the quarter was $15.4 million or $0.30 per share, as compared to $10.1 million or $0.21 per share for the second quarter of 2004.
"We are pleased with the strong results we achieved during the quarter," said Labor Ready President and CEO Joe Sambataro. "We grew net income during the quarter by more than 50 percent over last year through a combination of higher revenues, improved gross margins and lower workers' compensation expenses."
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