|        |
|--------|
|        |
|   |

|   |
|---|
|   |  |
| x | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |

|   |
|---|
|   |  |
| o | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |

|                                                               |
|---------------------------------------------------------------|
|                                                               |  |  |
| Washington                                                    |   | 91-1287341 |
| (State or other jurisdiction ofincorporation or organization) |   | (IRS EmployerIdentification No.) |
|                                                          |   |   |
| 1015 A Street, Tacoma, Washington                             |   | 98402 |
| (Address of principal executive offices)                      |   | (Zip Code) |

|                                      |
|--------------------------------------|
|                                      |  |  |  |
| Large accelerated filer  o | Accelerated filer  x | Non-accelerated filer  o | Smaller reporting company  o |

|        |
|--------|
|        |
|   |

----

Table of Contents

----

|                               |
|-------------------------------|
|                               |  |  |
| Part I. Financial Information |   |
|                          |   |   |
| Item 1.                  | Financial Statements (unaudited) |   |
|                          |   |   |
|                          | Consolidated Balance Sheets as of June 29, 2012 and December 30, 2011 | 3 |
|                          |   |   |
|                          | Consolidated Statements of Comprehensive Income for the Thirteen and Twenty-six weeks ended June 29, 2012 and July 1, 2011 | 4 |
|                          |   |   |
|                          | Consolidated Statements of Cash Flows for the Twenty-six weeks ended June 29, 2012 and July 1, 2011 | 5 |
|                          |   |   |
|                          | Notes to Consolidated Financial Statements | 6 |
|                          |   |   |
| Item 2.                  | Management’s Discussion and Analysis of Financial Condition and Results of Operations | 16 |
|                          |   |   |
| Item 3.                  | Quantitative and Qualitative Disclosures about Market Risk | 25 |
|                          |   |   |
| Item 4.                       | Controls and Procedures | 25 |
|                          |   |
| Part II. Other Information    |   |
|                          |   |   |
| Item 1.                       | Legal Proceedings | 26 |
|                          |   |   |
| Item 1A.                      | Risk Factors | 26 |
|                          |   |   |
| Item 2.                       | Unregistered Sales of Equity Securities and Use of Proceeds | 29 |
|                          |   |   |
| Item 3.                       | Defaults Upon Senior Securities | 29 |
|                          |   |   |
| Item 4.                       | Mine Safety Disclosures | 29 |
|                          |   |   |
| Item 5.                       | Other Information | 29 |
|                          |   |   |
| Item 6.                       | Exhibits | 30 |
|                          |   |
| Signatures                    | 31 |

----

----

Table of Contents

----

|         |                      |
|---------|----------------------|
| Item 1. | Financial Statements |

|                                                                                                                                                                                                          |
|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                                                          |  |  |  |  |  |  |  |
|                                                                                                                                                                                                     | June 29, 2012 |   | December 30, 2011 |
| ASSETS                                                                                                                                                                                                   |   |   |   |
| Current assets:                                                                                                                                                                                          |   |   |   |
| Cash and cash equivalents                                                                                                                                                                                | $ | 129,446 |  |   | $ | 109,311 |  |
| Accounts receivable, net of allowance for doubtful accounts                                                                                                             of $5.2 million and $5.8 million | 163,794 |  |   | 153,878 |  |
| Prepaid expenses, deposits and other current assets                                                                                                                                                      | 7,135 |  |   | 9,252 |  |
| Income tax receivable                                                                                                                                                                                    | — |  |   | 1,874 |  |
| Deferred income taxes                                                                                                                                                                                    | 4,527 |  |   | 6,300 |  |
| Total current assets                                                                                                                                                                                     | 304,902 |  |   | 280,615 |  |
| Property and equipment, net                                                                                                                                                                              | 57,251 |  |   | 56,239 |  |
| Restricted cash and investments                                                                                                                                                                          | 124,949 |  |   | 130,498 |  |
| Deferred income taxes                                                                                                                                                                                    | 6,609 |  |   | 4,818 |  |
| Goodwill                                                                                                                                                                                                 | 48,139 |  |   | 48,139 |  |
| Intangible assets, net                                                                                                                                                                                   | 17,885 |  |   | 19,433 |  |
| Other assets, net                                                                                                                                                                                        | 21,060 |  |   | 21,027 |  |
| Total assets                                                                                                                                                                                             | $ | 580,795 |  |   | $ | 560,769 |  |
| LIABILITIES AND SHAREHOLDERS’ EQUITY                                                                                                                                                               |   |   |   |
| Current liabilities:                                                                                                                                                                                     |   |   |   |
| Accounts payable and other accrued expenses                                                                                                                                                              | $ | 22,135 |  |   | $ | 25,862 |  |
| Accrued wages and benefits                                                                                                                                                                               | 41,299 |  |   | 35,271 |  |
| Income tax payable                                                                                                                                                                                       | 2,057 |  |   | — |  |
| Current portion of workers' compensation claims reserve                                                                                                                                                  | 42,463 |  |   | 43,554 |  |
| Other current liabilities                                                                                                                                                                                | 9,995 |  |   | 7,602 |  |
| Total current liabilities                                                                                                                                                                                | 117,949 |  |   | 112,289 |  |
| Workers’ compensation claims reserve, less current portion                                                                                                                                         | 150,262 |  |   | 148,289 |  |
| Other long-term liabilities                                                                                                                                                                              | 4,715 |  |   | 6,612 |  |
| Total liabilities                                                                                                                                                                                        | 272,926 |  |   | 267,190 |  |
|                                                                                                                                                                                                     |   |   |   |
| Commitments and contingencies (Note 7)                                                                                                                                                                   |  |   |  |
|                                                                                                                                                                                                     |   |   |   |
| Shareholders’ equity:                                                                                                                                                                              |   |   |   |
| Preferred stock, $0.131 par value, 20,000 shares authorized; No shares issued and outstanding                                                                                                            | — |  |   | — |  |
| Common stock, no par value, 100,000 shares authorized; 40,117 and 39,933 shares issued and outstanding                                                                                                   | 1 |  |   | 1 |  |
| Accumulated other comprehensive income                                                                                                                                                                   | 2,509 |  |   | 2,643 |  |
| Retained earnings                                                                                                                                                                                        | 305,359 |  |   | 290,935 |  |
| Total shareholders’ equity                                                                                                                                                                         | 307,869 |  |   | 293,579 |  |
| Total liabilities and shareholders’ equity                                                                                                                                                         | $ | 580,795 |  |   | $ | 560,769 |  |

----

----

Table of Contents

----

|                                              |
|----------------------------------------------|
|                                              |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                         | Thirteen weeks ended |   | Twenty-six weeks ended |
|                                         | June 29, 2012 |   | July 1, 2011 |   | June 29, 2012 |   | July 1, 2011 |
| Revenue from services                        | $ | 354,261 |  |   | $ | 320,179 |  |   | $ | 665,448 |  |   | $ | 594,478 |  |
| Cost of services                             | 260,725 |  |   | 234,847 |  |   | 492,677 |  |   | 439,115 |  |
| Gross profit                                 | 93,536 |  |   | 85,332 |  |   | 172,771 |  |   | 155,363 |  |
| Selling, general and administrative expenses | 71,526 |  |   | 67,677 |  |   | 143,610 |  |   | 132,837 |  |
| Depreciation and amortization                | 4,729 |  |   | 3,862 |  |   | 9,496 |  |   | 7,784 |  |
| Income from operations                       | 17,281 |  |   | 13,793 |  |   | 19,665 |  |   | 14,742 |  |
| Interest expense                             | (244 | ) |   | (415 | ) |   | (635 | ) |   | (688 | ) |
| Interest and other income                    | 656 |  |   | 581 |  |   | 1,312 |  |   | 1,162 |  |
| Interest and other income, net               | 412 |  |   | 166 |  |   | 677 |  |   | 474 |  |
| Income before tax expense                    | 17,693 |  |   | 13,959 |  |   | 20,342 |  |   | 15,216 |  |
| Income tax expense                           | 7,356 |  |   | 5,411 |  |   | 8,475 |  |   | 5,903 |  |
| Net income                                   | $ | 10,337 |  |   | $ | 8,548 |  |   | $ | 11,867 |  |   | $ | 9,313 |  |
|                                         |   |   |   |   |   |   |   |
| Net income per common share:                 |   |   |   |   |   |   |   |
| Basic                                        | $ | 0.26 |  |   | $ | 0.20 |  |   | $ | 0.30 |  |   | $ | 0.21 |  |
| Diluted                                      | $ | 0.26 |  |   | $ | 0.20 |  |   | $ | 0.30 |  |   | $ | 0.21 |  |
| Weighted average shares outstanding:         |   |   |   |   |   |   |   |
| Basic                                        | 39,701 |  |   | 43,367 |  |   | 39,563 |  |   | 43,413 |  |
| Diluted                                      | 40,097 |  |   | 43,674 |  |   | 39,993 |  |   | 43,784 |  |
|                                         |   |   |   |   |   |   |   |
| Comprehensive income                         | $ | 9,943 |  |   | $ | 8,585 |  |   | $ | 11,735 |  |   | $ | 9,608 |  |

----

----

Table of Contents

----

|                                                                            |
|----------------------------------------------------------------------------|
|                                                                            |  |  |  |  |  |  |  |
|                                                                       | Twenty-six weeks ended |
|                                                                       | June 29, 2012 |   | July 1, 2011 |
| Cash flows from operating activities:                                      |   |   |   |
| Net income                                                                 | $ | 11,867 |  |   | $ | 9,313 |  |
| Adjustments to reconcile net income to net cash from operating activities: |   |   |   |
| Depreciation and amortization                                              | 9,496 |  |   | 7,784 |  |
| Provision for doubtful accounts                                            | 2,022 |  |   | 2,125 |  |
| Stock-based compensation                                                   | 4,846 |  |   | 4,097 |  |
| Deferred income taxes                                                      | (15 | ) |   | 1,991 |  |
| Other operating activities                                                 | 972 |  |   | (485 | ) |
| Changes in operating assets and liabilities:                               |   |   |   |
| Accounts receivable                                                        | (11,938 | ) |   | (36,449 | ) |
| Income taxes                                                               | 4,488 |  |   | 1,019 |  |
| Other assets                                                               | 2,084 |  |   | (1,845 | ) |
| Accounts payable and other accrued expenses                                | (3,173 | ) |   | 8,881 |  |
| Accrued wages and benefits                                                 | 5,949 |  |   | 6,115 |  |
| Workers’ compensation claims reserve                                 | 882 |  |   | (1,299 | ) |
| Other liabilities                                                          | 277 |  |   | (112 | ) |
| Net cash provided by operating activities                                  | 27,757 |  |   | 1,135 |  |
| Cash flows from investing activities:                                      |   |   |   |
| Capital expenditures                                                       | (9,535 | ) |   | (3,678 | ) |
| Change in restricted cash and cash equivalents                             | 9,774 |  |   | 70,265 |  |
| Purchases of restricted investments                                        | (18,153 | ) |   | (78,279 | ) |
| Maturities of restricted investments                                       | 12,726 |  |   | 5,300 |  |
| Other                                                                      | — |  |   | (2,800 | ) |
| Net cash used in investing activities                                      | (5,188 | ) |   | (9,192 | ) |
| Cash flows from financing activities:                                      |   |   |   |
| Purchases and retirement of common stock                                   | (3,990 | ) |   | (12,871 | ) |
| Net proceeds from sale of stock through options and employee benefit plans | 3,142 |  |   | 616 |  |
| Common stock repurchases for taxes upon vesting of restricted stock        | (1,996 | ) |   | (1,611 | ) |
| Payments on debt                                                           | (88 | ) |   | (206 | ) |
| Other                                                                      | 556 |  |   | 691 |  |
| Net cash used in financing activities                                      | (2,376 | ) |   | (13,381 | ) |
| Effect of exchange rates on cash                                           | (58 | ) |   | 304 |  |
| Net change in cash and cash equivalents                                    | 20,135 |  |   | (21,134 | ) |
| CASH AND CASH EQUIVALENTS, beginning of period                             | 109,311 |  |   | 163,153 |  |
| CASH AND CASH EQUIVALENTS, end of period                                   | $ | 129,446 |  |   | $ | 142,019 |  |

----

----

Table of Contents

----

|         |                                     |
|---------|-------------------------------------|
| NOTE 1: | ACCOUNTING PRINCIPLES AND PRACTICES |

|         |                        |
|---------|------------------------|
| NOTE 2: | FAIR VALUE MEASUREMENT |

|         |                                                                                                                                                                                                                                   |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Level 1: Inputs are valued using quoted market prices in active markets for identical assets or liabilities. Our  Level 1 assets primarily include cash and cash equivalents, mutual funds and United States Treasury Securities. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Level 2:  Inputs are valued based upon quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active.  Our Level 2 assets are restricted investments which primarily consist of Municipal Securities, Corporate Securities, U.S. Agency Mortgages and U.S. Agency Debentures. We obtain our inputs from quoted market prices and independent pricing vendors. |

|         |                                                                                                                                                                                                                                   |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Level 3: Inputs are generally unobservable and typically reflect management's estimates of assumptions that market participants would use in pricing the asset or liability.  We currently have no Level 3 assets or liabilities. |

----

----

Table of Contents 

----

|                                                           |
|-----------------------------------------------------------|
|                                                           |  |  |  |  |  |  |  |
|                                                      | June 29, 2012 |   | December 30, 2011 |
| Level 1:                                                  |   |   |   |
| Cash equivalents (1)                                      | $ | 67.5 |  |   | $ | 55.5 |  |
| Restricted cash equivalents (1)                           | 23.6 |  |   | 31.2 |  |
| Restricted investments classified as held-to-maturity (2) | — |  |   | 1.0 |  |
| Other restricted investments (3)                          | 3.4 |  |   | 2.2 |  |
| Level 2:                                                  |   |   |   |
| Restricted investments classified as held-to-maturity (4) | 83.6 |  |   | 78.0 |  |

|     |                                                                                                                                                            |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1) | Cash equivalents and restricted cash equivalents consist of money market funds, deposits and investments with original maturities of three months or less. |

|     |                                                                                                             |
|-----|-------------------------------------------------------------------------------------------------------------|
| (2) | Level 1 restricted investments classified as held-to-maturity consist of United States Treasury Securities. |

|     |                                                                                                                        |
|-----|------------------------------------------------------------------------------------------------------------------------|
| (3) | Level 1 other restricted investments consist of deferred compensation investments which are comprised of mutual funds. |

|     |                                                                                                                                                                        |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (4) | Level 2 restricted investments classified as held-to-maturity consist of Municipal Securities, Corporate Securities, U.S. Agency Mortgages and U.S. Agency Debentures. |

|         |                                 |
|---------|---------------------------------|
| NOTE 3: | RESTRICTED CASH AND INVESTMENTS |

|                                             |
|---------------------------------------------|
|                                             |  |  |  |  |  |  |  |
|                                        | June 29, 2012 |   | December 30, 2011 |
| Cash collateral held by insurance carriers  | $ | 21.2 |  |   | $ | 21.3 |  |
| Cash and cash equivalents held in Trust (1) | 15.8 |  |   | 19.2 |  |
| Investments held in Trust                   | 82.2 |  |   | 78.0 |  |
| Cash collateral backing letters of credit   | 1.8 |  |   | 5.9 |  |
| Other (2)                                   | 3.9 |  |   | 6.1 |  |
| Total restricted cash and investments       | $ | 124.9 |  |   | $ | 130.5 |  |

|     |                                                                                                                            |
|-----|----------------------------------------------------------------------------------------------------------------------------|
| (1) | Included in this amount is $0.8 million of accrued interest at both June 29, 2012 and December 30, 2011. |

|     |                                                                                                                                             |
|-----|---------------------------------------------------------------------------------------------------------------------------------------------|
| (2) | Primarily consists of restricted cash in money market accounts and deferred compensation plan accounts which are comprised of mutual funds. |

|                      |
|----------------------|
|                      |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                 | June 29, 2012 |
|                 | Amortized Cost |   | Gross Unrealized Gain |   | Gross Unrealized Loss |   | Fair Value |
| Municipal securities | $ | 50.9 |  |   | $ | 0.9 |  |   | $ | — |  |   | $ | 51.8 |  |
| Corporate bonds      | 14.3 |  |   | 0.3 |  |   | — |  |   | 14.6 |  |
| Asset backed bonds   | 17.0 |  |   | 0.2 |  |   | — |  |   | 17.2 |  |
|                 | $ | 82.2 |  |   | $ | 1.4 |  |   | $ | — |  |   | $ | 83.6 |  |

----

----

Table of Contents 

----

|                                        |
|----------------------------------------|
|                                        |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                   | December 30, 2011 |
|                                   | Amortized Cost |   | Gross Unrealized Gain |   | Gross Unrealized Loss |   | Fair Value |
| Municipal securities                   | $ | 42.8 |  |   | $ | 0.8 |  |   | $ | (0.1 | ) |   | $ | 43.5 |  |
| Corporate bonds                        | 16.1 |  |   | 0.2 |  |   | — |  |   | 16.3 |  |
| Asset backed bonds                     | 13.6 |  |   | 0.1 |  |   | — |  |   | 13.7 |  |
| State government and agency securities | 4.5 |  |   | — |  |   | — |  |   | 4.5 |  |
| United States Treasury securities      | 1.0 |  |   | — |  |   | — |  |   | 1.0 |  |
|                                   | $ | 78.0 |  |   | $ | 1.1 |  |   | $ | (0.1 | ) |   | $ | 79.0 |  |

|                                        |
|----------------------------------------|
|                                        |  |  |  |  |  |  |  |
|                                   | June 29, 2012 |
|                                   | Amortized Cost |   | Fair Value |
| Due in one year or less                | $ | 10.7 |  |   | $ | 10.7 |  |
| Due after one year through five years  | 42.1 |  |   | 42.9 |  |
| Due after five years through ten years | 29.4 |  |   | 30.0 |  |
|                                   | $ | 82.2 |  |   | $ | 83.6 |  |

|         |                             |
|---------|-----------------------------|
| NOTE 4: | PROPERTY AND EQUIPMENT, NET |

|                                                |
|------------------------------------------------|
|                                                |  |  |  |  |  |  |  |
|                                           | June 29, 2012 |   | December 30, 2011 |
| Buildings and land                             | $ | 25.7 |  |   | $ | 24.5 |  |
| Computers and software                         | 86.3 |  |   | 80.5 |  |
| Cash dispensing machines                       | 4.2 |  |   | 4.5 |  |
| Furniture and equipment                        | 8.8 |  |   | 8.7 |  |
| Construction in progress                       | 5.2 |  |   | 3.6 |  |
|                                                | 130.2 |  |   | 121.8 |  |
| Less accumulated depreciation and amortization | (72.9 | ) |   | (65.6 | ) |
|                                           | $ | 57.3 |  |   | $ | 56.2 |  |

----

----

Table of Contents 

----

|         |                   |
|---------|-------------------|
| NOTE 5: | INTANGIBLE ASSETS |

|                                                     |
|-----------------------------------------------------|
|                                                     |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                | June 29, 2012 |   | December 30, 2011 |
|                                                | GrossCarryingAmount |   | AccumulatedAmortization |   | NetCarryingAmount |   | GrossCarryingAmount |   | AccumulatedAmortization |   | NetCarryingAmount |
| Amortizable intangible assets (1):                  |   |   |   |   |   |   |   |   |   |   |   |
| Customer relationships                              | $ | 19.1 |  |   | $ | (9.4 | ) |   | $ | 9.7 |  |   | $ | 19.1 |  |   | $ | (8.3 | ) |   | $ | 10.8 |  |
| Trade name/trademarks                               | 3.3 |  |   | (1.5 | ) |   | 1.8 |  |   | 3.3 |  |   | (1.3 | ) |   | 2.0 |  |
| Non-compete agreements                              | 2.5 |  |   | (1.9 | ) |   | 0.6 |  |   | 2.5 |  |   | (1.7 | ) |   | 0.8 |  |
|                                                | $ | 24.9 |  |   | $ | (12.8 | ) |   | $ | 12.1 |  |   | $ | 24.9 |  |   | $ | (11.3 | ) |   | $ | 13.6 |  |
| Indefinite-lived intangible assets:                 |   |   |   |   |   |   |   |   |   |   |   |
|      Trade name/trademarks | $ | 5.8 |  |   | $ | — |  |   | $ | 5.8 |  |   | $ | 5.8 |  |   | $ | — |  |   | $ | 5.8 |  |

|                   |
|-------------------|
|                   |  |  |  |
| Remainder of 2012 | $ | 1.5 |  |
| 2013              | 2.7 |  |
| 2014              | 2.7 |  |
| 2015              | 2.6 |  |
| 2016              | 2.3 |  |
| 2017              | 0.3 |  |
|              | $ | 12.1 |  |

|         |                                                    |
|---------|----------------------------------------------------|
| NOTE 6: | WORKERS’ COMPENSATION INSURANCE AND RESERVES |

----

----

Table of Contents 

----

|         |                               |
|---------|-------------------------------|
| NOTE 7: | COMMITMENTS AND CONTINGENCIES |

----

----

Table of Contents 

----

|                                     |
|-------------------------------------|
|                                     |  |  |
| Excess Liquidity:                   | Prime Rate Loans: | LIBOR Rate Loans: |
| Greater than $40 million            | 0.50% | 1.50% |
| Between $20 million and $40 million | 0.75% | 1.75% |
| Less than $20 million               | 1.00% | 2.00% |

|                                             |
|---------------------------------------------|
|                                             |  |  |  |  |  |  |  |
|                                        | June 29, 2012 |   | December 30, 2011 |
| Cash collateral held by insurance carriers  | $ | 21.2 |  |   | $ | 21.3 |  |
| Cash and cash equivalents held in Trust (1) | 15.8 |  |   | 19.2 |  |
| Investments held in Trust                   | 82.2 |  |   | 78.0 |  |
| Letters of credit (2)                       | 9.8 |  |   | 16.7 |  |
| Surety bonds (3)                            | 16.1 |  |   | 16.2 |  |
| Total collateral commitments                | $ | 145.1 |  |   | $ | 151.4 |  |

|     |                                                                                                                            |
|-----|----------------------------------------------------------------------------------------------------------------------------|
| (1) | Included in this amount is $0.8 million of accrued interest at both June 29, 2012 and December 30, 2011. |

|     |                                                                                                                                                                                                                                                                            |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2) | We have agreements with certain financial institutions to issue letters of credit as collateral. We had $1.8 million and $5.9 million of restricted cash collateralizing our letters of credit at June 29, 2012 and December 30, 2011, respectively. |

|     |                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (3) | Our surety bonds are issued by independent insurance companies on our behalf and bear annual fees based on a percentage of the bond, which is determined by each independent surety carrier, but do not exceed 2.0% of the bond amount, subject to a minimum charge. The terms of these bonds are subject to review and renewal every one to four years and most bonds can be canceled by the sureties with as little as 60 days notice. |

----

----

Table of Contents 

----

|         |                          |
|---------|--------------------------|
| NOTE 8: | STOCK-BASED COMPENSATION |

|                                                                       |
|-----------------------------------------------------------------------|
|                                                                       |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                  | Thirteen weeks ended |   | Twenty-six weeks ended |
|                                                                  | June 29, 2012 |   | July 1, 2011 |   | June 29, 2012 |   | July 1, 2011 |
| Restricted and unrestricted stock and performance share units expense | $ | 1.8 |  |   | $ | 1.4 |  |   | $ | 4.6 |  |   | $ | 3.8 |  |
| Stock option expense                                                  | — |  |   | 0.1 |  |   | 0.1 |  |   | 0.2 |  |
| ESPP expense                                                          | 0.1 |  |   | — |  |   | 0.1 |  |   | 0.1 |  |
| Total stock-based compensation expense                                | $ | 1.9 |  |   | $ | 1.5 |  |   | $ | 4.8 |  |   | $ | 4.1 |  |

|                                     |
|-------------------------------------|
|                                     |  |  |  |  |  |  |
|                                | Twenty-six weeks ended |
|                                | June 29, 2012 |
|                                | Shares |   | Price (1) |
| Non-vested at beginning of period   | 1,266 |  |   | $ | 13.92 |  |
| Granted                             | 598 |  |   | $ | 16.77 |  |
| Vested                              | (347 | ) |   | $ | 13.81 |  |
| Forfeited                           | (97 | ) |   | $ | 13.82 |  |
| Non-vested at the end of the period | 1,420 |  |   | $ | 15.15 |  |

|     |                                              |
|-----|----------------------------------------------|
| (1) | Weighted average market price on grant-date. |

----

----

Table of Contents 

----

|                                         |
|-----------------------------------------|
|                                         |  |  |  |  |  |  |
|                                    | Twenty-six weeks ended |
|                                    | June 29, 2012 |
|                                    | Shares |   | Price (1) |
| Outstanding, December 31, 2011          | 1,110 |  |   | $ | 15.64 |  |
| Granted                                 | — |  |   | $ | — |  |
| Exercised                               | (231 | ) |   | $ | 9.15 |  |
| Expired/Forfeited                       | (153 | ) |   | $ | 18.04 |  |
| Outstanding, June 29, 2012              | 726 |  |   | $ | 17.20 |  |
|                                         |   |   |   |
| Exercisable, June 29, 2012              | 721 |  |   | $ | 17.25 |  |
| Options expected to vest, June 29, 2012 | 5 |  |   | $ | 9.08 |  |

|     |                                  |
|-----|----------------------------------|
| (1) | Weighted average exercise price. |

|         |                   |
|---------|-------------------|
| NOTE 9: | STOCK REPURCHASES |

----

----

Table of Contents 

----

|          |              |
|----------|--------------|
| NOTE 10: | INCOME TAXES |

|          |                      |
|----------|----------------------|
| NOTE 11: | NET INCOME PER SHARE |

|                                                                                      |
|--------------------------------------------------------------------------------------|
|                                                                                      |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                                                 | Thirteen weeks ended |   | Twenty-six weeks ended |
|                                                                                 | June 29, 2012 |   | July 1, 2011 |   | June 29, 2012 |   | July 1, 2011 |
|    Net income                                                         | $ | 10.3 |  |   | $ | 8.5 |  |   | $ | 11.9 |  |   | $ | 9.3 |  |
|                                                                                 |   |   |   |   |   |   |   |
| Weighted average number of common shares used in basic net income per common share   | 39.7 |  |   | 43.4 |  |   | 39.6 |  |   | 43.4 |  |
| Dilutive effect of outstanding stock options and non-vested restricted stock         | 0.4 |  |   | 0.3 |  |   | 0.4 |  |   | 0.4 |  |
| Weighted average number of common shares used in diluted net income per common share | 40.1 |  |   | 43.7 |  |   | 40.0 |  |   | 43.8 |  |
|    Net income per common share:                                       |   |   |   |   |   |   |   |
| Basic                                                                                | $ | 0.26 |  |   | $ | 0.20 |  |   | $ | 0.30 |  |   | $ | 0.21 |  |
| Diluted                                                                              | $ | 0.26 |  |   | $ | 0.20 |  |   | $ | 0.30 |  |   | $ | 0.21 |  |
|                                                                                 |   |   |   |   |   |   |   |
| Anti-dilutive shares                                                                 | 0.7 |  |   | 1.0 |  |   | 0.8 |  |   | 0.7 |  |

|          |                                    |
|----------|------------------------------------|
| NOTE 12: | SUPPLEMENTAL CASH FLOW INFORMATION |

|                                  |
|----------------------------------|
|                                  |  |  |  |  |  |  |  |
|                             | Twenty-six weeks ended |
|                                  | June 29, 2012 |   | July 1, 2011 |
| Cash paid during the period for: |   |   |   |
| Interest                         | $ | 0.3 |  |   | $ | 0.5 |  |
| Income taxes                     | $ | 3.7 |  |   | $ | 2.9 |  |

----

----

Table of Contents 

----

|          |                   |
|----------|-------------------|
| NOTE 13: | SUBSEQUENT EVENTS |

----

----

Table of Contents

----

|         |                                                                                             |
|---------|---------------------------------------------------------------------------------------------|
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations |

|         |          |
|---------|----------|
| • | Overview |

|         |                       |
|---------|-----------------------|
| • | Results of Operations |

|         |                                 |
|---------|---------------------------------|
| • | Liquidity and Capital Resources |

|         |                                         |
|---------|-----------------------------------------|
| • | Contractual Obligations and Commitments |

|         |                                                       |
|---------|-------------------------------------------------------|
| • | Summary of Critical Accounting Policies and Estimates |

|         |                          |
|---------|--------------------------|
| • | New Accounting Standards |

----

----

Table of Contents

----

|                                                                |
|----------------------------------------------------------------|
|                                                                |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                                           | Thirteen weeks ended |   | Twenty-six weeks ended |
|                                                           | June 29, 2012 |   | July 1, 2011 |   | June 29, 2012 |   | July 1, 2011 |
| Revenue from services                                          | $ | 354.3 |  |   | $ | 320.2 |  |   | $ | 665.4 |  |   | $ | 594.5 |  |
| Total revenue growth %                                         | 10.6 | % |   | 12.4 | % |   | 11.9 | % |   | 13.3 | % |
|                                                           |   |   |   |   |   |   |   |
| Gross profit as a % of revenue                                 | 26.4 | % |   | 26.7 | % |   | 26.0 | % |   | 26.1 | % |
|                                                           |   |   |   |   |   |   |   |
| Selling, general and administrative expenses                   | $ | 71.5 |  |   | $ | 67.7 |  |   | $ | 143.6 |  |   | $ | 132.8 |  |
| Selling, general and administrative expenses as a % of revenue | 20.2 | % |   | 21.1 | % |   | 21.6 | % |   | 22.3 | % |
|                                                           |   |   |   |   |   |   |   |
| Income from operations                                         | $ | 17.3 |  |   | $ | 13.8 |  |   | $ | 19.7 |  |   | $ | 14.7 |  |
| Income from operations as a % of revenue                       | 4.9 | % |   | 4.3 | % |   | 3.0 | % |   | 2.5 | % |
|                                                           |   |   |   |   |   |   |   |
| Net Income                                                     | $ | 10.3 |  |   | $ | 8.5 |  |   | $ | 11.9 |  |   | $ | 9.3 |  |
| Net Income per diluted share                                   | $ | 0.26 |  |   | $ | 0.20 |  |   | $ | 0.30 |  |   | $ | 0.21 |  |

|                        |
|------------------------|
|                        |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                   | Thirteen weeks ended |   | Twenty-six weeks ended |
|                   | June 29, 2012 |   | July 1, 2011 |   | June 29, 2012 |   | July 1, 2011 |
| Revenue from services  | $ | 354.3 |  |   | $ | 320.2 |  |   | $ | 665.4 |  |   | $ | 594.5 |  |
| Total revenue growth % | 10.6 | % |   | 12.4 | % |   | 11.9 | % |   | 13.3 | % |

|                                |
|--------------------------------|
|                                |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                           | Thirteen weeks ended |   | Twenty-six weeks ended |
|                           | June 29, 2012 |   | July 1, 2011 |   | June 29, 2012 |   | July 1, 2011 |
| Gross profit                   | $ | 93.5 |  |   | $ | 85.3 |  |   | $ | 172.8 |  |   | $ | 155.4 |  |
| Gross profit as a % of revenue | 26.4 | % |   | 26.7 | % |   | 26.0 | % |   | 26.1 | % |

----

----

Table of Contents

----

|                                              |
|----------------------------------------------|
|                                              |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                                         | Thirteen weeks ended |   | Twenty-six weeks ended |
|                                         | June 29, 2012 |   | July 1, 2011 |   | June 29, 2012 |   | July 1, 2011 |
| Selling, general and administrative expenses | $ | 71.5 |  |   | $ | 67.7 |  |   | $ | 143.6 |  |   | $ | 132.8 |  |
| Percentage of revenue                        | 20.2 | % |   | 21.1 | % |   | 21.6 | % |   | 22.3 | % |

|                                |
|--------------------------------|
|                                |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                           | Thirteen weeks ended |   | Twenty-six weeks ended |
|                           | June 29, 2012 |   | July 1, 2011 |   | June 29, 2012 |   | July 1, 2011 |
| Depreciation and amortization  | $ | 4.7 |  |   | $ | 3.9 |  |   | $ | 9.5 |  |   | $ | 7.8 |  |
| Interest and other income, net | $ | 0.4 |  |   | $ | 0.2 |  |   | $ | 0.7 |  |   | $ | 0.5 |  |

|                           |
|---------------------------|
|                           |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|                      | Thirteen weeks ended |   | Twenty-six weeks ended |
|                      | June 29, 2012 |   | July 1, 2011 |   | June 29, 2012 |   | July 1, 2011 |
| Income tax expense        | $ | 7.4 |  |   | $ | 5.4 |  |   | $ | 8.5 |  |   | $ | 5.9 |  |
| Effective income tax rate | 41.6 | % |   | 38.8 | % |   | 41.7 | % |   | 38.8 | % |

----

----

Table of Contents

----

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Due to our industry's sensitivity to economic factors, the inherent difficulty in forecasting the direction and strength of the economy and the short term nature of staffing assignments, our visibility for future demand is limited. As a result, we monitor a number of economic indicators as well as certain trends to estimate future revenue. Based on these anticipated trends, we expect continued revenue growth in 2012 assuming stable economic and customer conditions. However, we expect diminishing rate of revenue growth due to more challenging prior period revenue comparisons. |

|         |                                                                                                                                                                                                                                                                                                                                                                                          |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Our top priority remains to increase revenue through our existing branch network. This should produce strong incremental operating margins as we leverage our cost structure across additional revenue. We will continue to invest in our sales and customer service programs, which we believe will enhance our ability to capitalize on further revenue growth and customer retention. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                          |
|---------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Revenue associated with our largest customer was approximately $22.8 million or 6.4% of second quarter 2012 revenue. While we expect continued revenue from this customer, our work is project based and the completion of certain projects will impact our revenue. We are actively pursuing other project opportunities with our largest customer and other customers in related industries. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | As the economy grows, we will continue to evaluate opportunities to expand our market presence. All of our multi-location brands have opportunities to expand through new physical locations or by sharing existing locations. Where possible, we plan to expand the presence of our brands by sharing existing locations to achieve cost synergies. We plan to build on our success with centralized recruitment and dispatch of our temporary workers to locations without physical branches and expand our geographic reach. We will also evaluate strategic acquisitions in the blue-collar staffing market that can produce strong returns on investment. Our focus is on acquisitions that can accelerate the building of a national presence for a particular brand or that provide an opportunity to serve a new, but sizable portion of the blue-collar staffing market. |

|         |                                                                                                                                                                                                                                                                                                                                                                                                                                   |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| • | Minimum wage and certain unemployment taxes increased again in 2012 and we increased our billing rates to customers to cover these costs. Until the economy fully recovers and state unemployment funds have been replenished and related federal loans have been repaid by certain states, we expect continued increases to our unemployment taxes and our customers could be resistant to price increases to cover these costs. |

----

----

Table of Contents

----

|                                                                            |
|----------------------------------------------------------------------------|
|                                                                            |  |  |  |  |  |  |  |
|                                                                       | Twenty-six weeks ended |
|                                                                       | June 29, 2012 |   | July 1, 2011 |
| Net income                                                                 | $ | 11.9 |  |   | $ | 9.3 |  |
| Adjustments to reconcile net income to net cash from operating activities: |   |   |   |
| Depreciation and amortization                                              | 9.5 |  |   | 7.8 |  |
| Provision for doubtful accounts                                            | 2.0 |  |   | 2.1 |  |
| Stock-based compensation                                                   | 4.8 |  |   | 4.1 |  |
| Deferred income taxes                                                      | — |  |   | 2.0 |  |
| Other operating activities                                                 | 1.0 |  |   | (0.5 | ) |
| Changes in operating assets and liabilities:                               |  |   |  |
| Accounts receivable                                                        | (11.9 | ) |   | (36.4 | ) |
| Income taxes                                                               | 4.5 |  |   | 1.0 |  |
| Accounts payable and other accrued expenses                                | 2.8 |  |   | 15.0 |  |
| Workers' compensation claims reserve                                       | 0.9 |  |   | (1.3 | ) |
| Other assets and  liabilities                                              | 2.3 |  |   | (2.0 | ) |
| Net cash provided by operating activities                                  | $ | 27.8 |  |   | $ | 1.1 |  |

|                                                |
|------------------------------------------------|
|                                                |  |  |  |  |  |  |  |
|                                           | Twenty-six weeks ended |
|                                           | June 29, 2012 |   | July 1, 2011 |
| Capital expenditures                           | $ | (9.5 | ) |   | $ | (3.7 | ) |
| Change in restricted cash and cash equivalents | 9.8 |  |   | 70.3 |  |
| Purchase of restricted investments             | (18.2 | ) |   | (78.3 | ) |
| Maturities of restricted investments           | 12.7 |  |   | 5.3 |  |
| Other                                          | — |  |   | (2.8 | ) |
| Net cash used in investing activities          | $ | (5.2 | ) |   | $ | (9.2 | ) |

----

----

Table of Contents

----

|                                                                            |
|----------------------------------------------------------------------------|
|                                                                            |  |  |  |  |  |  |  |
|                                                                       | Twenty-six weeks ended |
|                                                                       | June 29, 2012 |   | July 1, 2011 |
| Purchases and retirement of common stock                                   | $ | (4.0 | ) |   | $ | (12.9 | ) |
| Net proceeds from sale of stock through options and employee benefit plans | 3.1 |  |   | 0.6 |  |
| Common stock repurchases for taxes upon vesting of restricted stock        | (2.0 | ) |   | (1.6 | ) |
| Payments on debt                                                           | (0.1 | ) |   | (0.2 | ) |
| Other                                                                      | 0.6 |  |   | 0.7 |  |
| Net cash used in financing activities                                      | $ | (2.4 | ) |   | $ | (13.4 | ) |

|                                     |
|-------------------------------------|
|                                     |  |  |
| Excess Liquidity:                   | Prime Rate Loans: | LIBOR Rate Loans: |
| Greater than $40 million            | 0.50% | 1.50% |
| Between $20 million and $40 million | 0.75% | 1.75% |
| Less than $20 million               | 1.00% | 2.00% |

----

----

Table of Contents

----

|                                             |
|---------------------------------------------|
|                                             |  |  |  |  |  |  |  |
|                                        | June 29, 2012 |   | December 30, 2011 |
| Cash collateral held by insurance carriers  | $ | 21.2 |  |   | $ | 21.3 |  |
| Cash and cash equivalents held in Trust (1) | 15.8 |  |   | 19.2 |  |
| Investments held in Trust                   | 82.2 |  |   | 78.0 |  |
| Letters of credit (2)                       | 9.8 |  |   | 16.7 |  |
| Surety bonds (3)                            | 16.1 |  |   | 16.2 |  |
| Total collateral commitments                | $ | 145.1 |  |   | $ | 151.4 |  |

|     |                                                                                                                        |
|-----|------------------------------------------------------------------------------------------------------------------------|
| (1) | Included in this amount is $0.8 million of accrued interest at both June 29, 2012 and December 30, 2011. |

|     |                                                                                                                                                                                                                                                            |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2) | We have agreements with certain financial institutions to issue letters of credit as collateral. We had $1.8 and $5.9 million of restricted cash collateralizing our letters of credit at June 29, 2012 and December 30, 2011, respectively. |

|     |                                                                                                                                                                                                                                                                                                                                                                                                                                          |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (3) | Our surety bonds are issued by independent insurance companies on our behalf and bear annual fees based on a percentage of the bond, which is determined by each independent surety carrier, but do not exceed 2.0% of the bond amount, subject to a minimum charge. The terms of these bonds are subject to review and renewal every one to four years and most bonds can be canceled by the sureties with as little as 60 days notice. |

----

----

Table of Contents

----

|                                                                |
|----------------------------------------------------------------|
|                                                                |  |  |  |  |  |  |  |
|                                                           | June 29, 2012 |   | December 30, 2011 |
| Total workers’ compensation reserve                      | $ | 192.7 |  |   | $ | 191.8 |  |
| Add back discount on reserves (1)                              | 17.4 |  |   | 18.6 |  |
| Less excess claims reserve (2)                                 | (26.1 | ) |   | (27.2 | ) |
| Reimbursable payments to insurance provider (3)                | 2.6 |  |   | 2.9 |  |
| Less portion of workers' compensation not requiring collateral | (41.5 | ) |   | (34.7 | ) |
| Total collateral commitments                                   | $ | 145.1 |  |   | $ | 151.4 |  |

|     |                                                                                                                                                                             |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1) | Our workers’ compensation reserves are discounted to their estimated net present value while our collateral commitments are based on the gross, undiscounted reserve. |

|     |                                                                                                                                                                                                                          |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (2) | Workers’ compensation reserve includes the estimated obligation for claims above our deductible limits. These are the responsibility of the insurance carriers against which there are no collateral requirements. |

|     |                                                                                                                                                                                                                                                                                                                                                          |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (3) | This amount is included in restricted cash and represents a timing difference between claim payments made by our insurance carrier and the reimbursement from cash held in the Trust. When claims are paid by our carrier, the amount is removed from the workers' compensation reserve but not removed from collateral until reimbursed to the carrier. |

----

----

Table of Contents

----

----

----

Table of Contents

----

|         |                                                            |
|---------|------------------------------------------------------------|
| Item 3. | Quantitative and Qualitative Disclosures about Market Risk |

|         |                         |
|---------|-------------------------|
| Item 4. | Controls and Procedures |

----

----

Table of Contents

----

|         |                   |
|---------|-------------------|
| Item 1. | Legal Proceedings |

|          |              |
|----------|--------------|
| Item 1A. | Risk Factors |

----

----

Table of Contents

----

----

----

Table of Contents

----

----

----

Table of Contents

----

|         |                                                             |
|---------|-------------------------------------------------------------|
| Item 2. | Unregistered Sales of Equity Securities and Use of Proceeds |

|                         |
|-------------------------|
|                         |  |  |  |  |  |  |  |  |  |  |  |
| Period                  | Total numberof  sharespurchased (1) |   | Weightedaverage pricepaid pershare (2) |   | Total number of  sharespurchased as part ofpublicly announced plansor programs |   | Maximum number of shares (orapproximate dollar value) thatmay yet be purchased underplans or programs at periodend (3) |
| 3/31/12 through 4/27/12 | 497 |  |   |  | $17.30 |  |   | — |  |   | $39.6 million |
| 4/28/12 through 5/25/12 | 10,290 |  |   |  | $16.63 |  |   | — |  |   | $39.6 million |
| 5/26/12 through 6/29/12 | 279,826 |  |   |  | $14.28 |  |   | 278,946 |  |   | $35.6 million |
| Total                   | 290,613 |  |   |  | $14.37 |  |   | 278,946 |  |   |   |

|     |                                                                                                                                                                                                                                                                               |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1) | During the thirteen weeks ended June 29, 2012, we purchased 11,667 shares in order to satisfy employee tax withholding obligations upon the vesting of restricted stock. These shares were not acquired pursuant to any publicly announced purchase plan or program. |

|     |                                                                                         |
|-----|-----------------------------------------------------------------------------------------|
| (2) | Weighted average price paid per share does not include any adjustments for commissions. |

|     |                                                                                                                                                                                                                                                                    |
|-----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (3) | Our Board of Directors authorized a $75 million share repurchase program in July 2011 that does not have an expiration date. As of June 29, 2012, $35.6 million remains available for repurchase of our common stock under the current authorization. |

|         |                                 |
|---------|---------------------------------|
| Item 3. | Defaults Upon Senior Securities |

|         |                         |
|---------|-------------------------|
| Item 4. | Mine Safety Disclosures |

|         |                   |
|---------|-------------------|
| Item 5. | Other Information |

----

----

Table of Contents

----

|         |          |
|---------|----------|
| Item 6. | Exhibits |

|        |
|--------|
|        |  |
| 31.1   | Certification of Steven C. Cooper, Chief Executive Officer of TrueBlue, Inc., Pursuant to Rule 13a-14(a), as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 |
|   |   |
| 31.2   | Certification of Derrek L. Gafford, Chief Financial Officer of TrueBlue, Inc., Pursuant to Rule 13a-14(a), as Adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002 |
|   |   |
| 32.1   | Certification of Steven C. Cooper, Chief Executive Officer of TrueBlue, Inc. and Derrek L. Gafford, Chief Financial Officer of TrueBlue, Inc., Pursuant to 18 U.S.C. Section 1350, as Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 |
|   |   |
| 101    | Interactive Data Files (1) |

|     |                                                                                                                                                                                                                                               |
|-----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| (1) | XBRL Interactive Data Files with detailed tagging will be filed by amendment to this Quarterly Report on Form 10-Q within 30 days of the filing date of this Quarterly Report on Form 10-Q, as permitted by Rule 405(a)(2) of Regulation S-T. |

----

----

Table of Contents

----

|        |
|--------|
|        |  |  |
|   | TrueBlue, Inc. |   |
|   |   |   |
|   | /S/    STEVEN C. COOPER         | 7/30/2012 |
|   | Signature | Date |
|   | By: Steven C. Cooper, Director, Chief Executive Officer and President |   |
|   |   |   |
|   | /S/    DERREK L. GAFFORD         | 7/30/2012 |
|   | Signature | Date |
|   | By: Derrek L. Gafford, Chief Financial Officer and Executive Vice President |   |
|   |   |   |
|   | /S/    NORMAN H. FREY         | 7/30/2012 |
|   | Signature | Date |
|   | By: Norman H. Frey, Chief Accounting Officer andCorporate Controller |   |

----