So Firamada is not exactly Manual Labor, but..........
LABOR READY REPORTS RECORD SALES FOR 13 WEEKS AND FIVE ENDED APRIL 3; THE COMPANY SAYS TEMPORARY MANUAL LABOR POOL AMPLE TO MEET STRONGDEMAND
TACOMA, Wash., April 8, 1998 -- Labor Ready Inc. (Nasdaq: LBOR), the nation's leading provider of temporary manual labor, reported
year-to- date sales for the 13 weeks, ended April 3, were a record $93.8 million, an increase of 81% from sales of $51.7 million for the same
period last year. In its monthly announcement of sales, the Company also reported revenue for the five weeks ended April 3, rose 70% to a
record $39.7 million from $23.3 million for the same period a year earlier. Financial results, including earnings, for the first quarter ended March
31, 1998, will be reported on April 29.
Labor Ready Chairman and CEO Glenn Welstad said that the demand for temporary manual laborers remains strong and the supply is more than
ample. ''In the face of strong demand, we have opened a record 104 new offices in the first quarter, and, as expected, we have found that the
supply of temporary laborers was more than adequate to fulfill the demand. We are pleased to report that we opened almost double the number
of new offices we achieved last year in the same period,'' he said. ''We are right on target to open 167 new offices by June 30th of this year, as
expected.''
Welstad said that the new offices opened so far this year are ramping up quickly and are positioned to take advantage of the peak demand in the
summer months, which is the busiest time of year for temporary manual labor, particularly in construction and landscaping.
''Out of the 420 offices now open,'' said Welstad, ''311 have cash dispensing machines already installed and working. The cash dispensing
machines have been viewed by the temporary employees as a terrific benefit and we see them as a competitive advantage in recruiting as well as
producing a continuing stream of revenue and earnings from the cash-dispensing fee.''
Labor Ready is currently operating 420 dispatch offices in 45 states and Canada. Tacoma, Washington-based Labor Ready is the nation's leading
provider of temporary workers to the light industrial, construction and small business markets.
This release may contain forward-looking statements of information that involve risks and uncertainties. The Company's actual results could differ
materially from the results identified in any forward-looking statements. Factors that could cause such a difference include, but are not limited to,
those set forth in Item 7 entitled Management's Discussion and Analysis of Financial Conditions and Results of Operations in the Company's Form
10-K for the year ended December 31, 1997.
SOURCE: Labor Ready Inc. |
