UniFirst Corporation Announces Unaudited Consolidated Earnings Results for the First Quarter Ended November 24, 2018; Provides Earnings Guidance for the Fiscal 2019
January 03, 2019 at 01:00 pm
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UniFirst Corporation announced unaudited consolidated earnings results for the first quarter ended November 24, 2018. For the period, the company announced revenues of $438,550,000 compared to $415,778,000 a year ago. Operating income was $50,426,000 compared to $51,911,000 a year ago. Income before income taxes was $51,959,000 compared to $53,033,000 a year ago. Net income was $38,320,000 or $2.08 per basic share compared to $34,206,000 or $1.77 per basic share a year ago. Diluted income per share was $1.99 compared to $1.67 a year ago.
The company continue to expect its fiscal 2019 revenues to be between $1.765 billion and $1.785 billion, however, due to the increases that the company experiencing primarily in payroll costs and merchandise amortization the company now expects full year diluted earnings per share to be between $6.65 and $6.90. This guidance excludes the impact of the CRM-related settlement agreement and as a reminder, guidance for fiscal 2019 includes one extra week of operations compared to fiscal 2018 due to the timing of fiscal calendar.
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 Announces Unaudited Consolidated Earnings Results for the First Quarter Ended November 24, 2018; Provides Earnings Guidance for the Fiscal 2019