UniFirst Corp. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended November 30, 2013; Revises Earnings Guidance for 2014
January 08, 2014 at 06:30 pm IST
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UniFirst Corp. announced unaudited consolidated earnings results for the first quarter ended November 30, 2013. For the quarter, the company's revenues were $346,704,000 against $332,569,000 a year ago. Income from operations was $55,640,000 against $49,959,000 a year ago. Income before income taxes was $56,356,000 against $50,426,000 a year ago. Net income was $34,462,000 or $1.71 per diluted share compared to $30,760,000 or $1.54 per diluted share reported in the year ago period. Net cash provided by operating activities was $68,642,000 compared to $56,167,000 a year ago period. Capital expenditures were $22,796,000 compared to $25,103,000 a year ago period.
The company revised earnings guidance for 2014. In October, the company expected fiscal 2014 revenues to be between $1.372 billion and $1.385 billion and full year EPS to be between $5.60 and $5.85. As a reminder, fiscal 2014 will be a 52 week year for the company compared to fiscal 2013 which was a 53 week year. Based on the first quarter performance, the company now anticipates full year results will be at the higher end of these ranges.
UniFirst Corporation provides workplace uniforms and protective work wear clothing in the United States. The Company operates through five segments: The U.S. and Canadian Rental and Cleaning, Manufacturing (MFG), Specialty Garments Rental and Cleaning (Specialty Garments), First Aid and Corporate. The U.S. and Canadian Rental and Cleaning segment purchases, rents, cleans, delivers, and sells, uniforms and protective clothing and non-garment items in the United States and Canada. The MFG segment designs and manufactures uniforms and non-garment items primarily for the purpose of providing these goods to the United States and Canadian Rental and Cleaning segment. The Specialty Garments segment purchases, rents, cleans, delivers, and sells, specialty garments and non-garment items primarily for nuclear and cleanroom applications and provides cleanroom cleaning services at limited customer locations. The First Aid segment sells first aid cabinet services and other safety supplies.
UNIFIRST CORPORATION 
