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Cintas Corp FY20: revenue $7,085 mn; net income $876 mn

Jul '20
Pic: Cintas Corporation
Pic: Cintas Corporation
Cintas Corporation, a US-based uniform supplier company, has reported 2.8 per cent revenue growth to $7,085.1 million in fiscal year 2020 that ended on May 31, 2020, compared to the revenue of $6,892.3 million in previous fiscal year. However, net income for the year marginally dropped 1 per cent to $876.0 million (FY19: $884.9 million). 
Revenue for the fourth quarter (Q4) FY20 declined 9.7 per cent to $1,619.5 million (Q4 FY19: $1,793.7 million). Net income for the quarter decreased 36.1 per cent to $144.5 million ($226.1 million). 
“The Covid-19 coronavirus pandemic was a significant disruption to the economy as well as to our business in our fiscal 2020 fourth quarter. The government-required closure of many businesses certainly had an impact on our fiscal 2020 fourth quarter financial results,” Scott Farmer, Cintas' chairman and chief executive officer, said in a press release.
Operating income for FY20 grew 2.6 per cent to $1,162.6 million ($1,133.5 million). 
Revenue of uniform rental and facility services for FY20 were $5,643.4 million ($5,552.4 million). First aid and safety services revenue rose to $708.5 million ($619.4 million). All other revenues for the year were $733.0 million ($720.4 million).

Fibre2Fashion News Desk (JL)

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