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Labor Ready (LRW)

Demand for temporary workers is on the rise. And nobody supplies the demand for unskilled labor better than this Tacoma (Wash.)-based outsourcing firm, which puts about 600,000 people to work in a year. Labor Ready's 2005 net income jumped 72% from 2004 to $62 million. It followed up by reporting first-quarter profits of $11.5 million, a 22% increase from $9.4 million in 2004. The company?founded in 1985 to provide temporary help for hauling, cleaning, painting and other manual work?sees demand for such workers picking up through the year. The firm estimates annual revenue could climb as high as $1.4 billion vs. $1.2 billion in 2005. Investors have jumped on board, pushing the up about 45% over the last year to around $25 a share. Labor Ready also has a brand new CEO: Steven Cooper, who had been chief financial officer, took charge in mid-May.

Company Info

2005 Rank

NR

Market Value*
($ Millions)

1,422.9

Sales*
($ Millions)

1,289.9

Sales Growth
(3-yr. avg. annual)

13.2 %

Profits*
($ Millions)

64.1

Profit Growth
(3-yr. avg. annual)

77.9 %

Return on Inv. Capital (3-yr.)

12.9 %

Share Price
12-Mo. Hi/Lo

28/17

Share Price
As of 4/28/06

26

Return on Equity

17.5 %

P/E Ratio

22

No. of Employees

3,400

Industry Human Resource & Employment Services
CURRENT
MARKET INFO

LRW >

COMPANY WEB SITE >
Location Tacoma, Wash.
Phone 253 383-9101
*Trailing 12 months
Stock price data as of 4/28/06
DATA: Standard & Poor's Compustat

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Company Snapshot

Labor Ready and its wholly owned subsidiaries provide temporary employees for lifting, hauling, cleaning, assembling, digging, painting, and other types of manual or unskilled work. As of Dec. 30, 2005, it had put approximately 600,000 people to work. The company serves small and mid-size businesses in the construction, transportation, warehousing, hospitality, landscaping, light manufacturing, retail, wholesale, facilities, and sanitation industries. Labor Ready operates in the U.S., Puerto Rico, Canada, and Britain. The company was incorporated in 1985 and has its headquarters in Tacoma, Wash.


Data provided by Capital IQ
 
Steven C. Cooper

Steven C. Cooper, 45

President and Chief Executive Officer


Total Compensation*

$ N/A

Total Options Value*

$ N/A

* Fiscal Year 2005


Executive Bio

Steven C. Cooper, 43, is president and CEO of Labor Ready (LRW), an international provider of temporary employees for manual labor, light industrial and skilled construction jobs, operating under the brand names of Labor Ready, Workforce, Spartan Staffing, and CLP Resources. Cooper was appointed CEO and elected to serve on the board of directors effective May 17, 2006. He has served for the past year as president and has been responsible for strategy, sales and marketing and branch operations of all brands and services. Prior to assuming executive leadership of the company's operations in 2005, Cooper served as executive vice president and chief financial officer, a position he held since 2001. Cooper also served as the vice president of finance after joining Labor Ready in 1999. Prior to joining the company, he held various senior management positions with Deloitte and Touche and Albertsons.


Management Team

Key Executives

Steven C. Cooper; Jim Defebaugh; Robert P. Breen; Billie R. Otto; Derrek L. Gafford; Yolanda D. Hubbard; Larkin,Wayne

Board Directors

Robert J. Sullivan; Thomas E. McChesney; Joseph P. Sambataro; Gates McKibbin; William W. Steele; Keith D. Grinstein; Craig E. Tall; Steven C. Cooper


Executive Data provided by Capital IQ