Home / Knowledge / News / Apparel/Garments / G&K Services posts record revenue for Q3 fiscal '06

G&K Services posts record revenue for Q3 fiscal '06

02
May '06
G&K Services Inc has reported record revenue for the third quarter ended April 1st 2006 of $226.1 million, up 11.0 percent over $203.8 million reported in the third fiscal quarter last year. Revenue exceeded expectations due to strong direct sale volume.

Earnings per diluted share totaled $0.49 for the quarter, a 4.3 percent increase compared to $0.47 during the prior-year quarter.

The increase in earnings was due to higher sales and a lower effective tax rate, partially offset by the impact of higher energy costs, continued investments in strategic initiatives, costs associated with accelerated new account growth and reserves established for the pending resolution of two specific legal matters.

For the nine months ended April 1st 2006, revenue was $653.4 million compared to $581.4 million during the prior-year period, an increase of 12.4 percent. Earnings per diluted share were $1.46, up 8.1 percent compared to $1.35 during the same period last year.

"Our results and momentum reflect the continued execution of our new strategic vision introduced in early fiscal 2005,” said Richard Marcantonio, Chairman and CEO.

"The early execution of our strategy continues to produce improved financial performance, despite the effect of the hurricanes and higher energy costs. Given our success to date in absorbing these cost pressures, we're confident our on-going strategic investments will deliver long-term revenue growth and accelerated earnings growth," he added.


Must ReadView All

Pic: Shutterstock

Textiles | On 13th Apr 2021

Indonesia's textiles industry gears up for Industry 4.0

Indonesia's textiles industry, among others, is getting ready to...

Pic: Azamat Imanaliev / Shutterstock.com

Apparel/Garments | On 13th Apr 2021

Output & profit of Chinese garment firms rise in Jan-Feb '21

Showing further recovery, garment enterprises in China saw their...

Pic: Shutterstock

Apparel/Garments | On 13th Apr 2021

Increasing scrutiny to create challenges for apparel industry: Moody's

Apparel production practices have a significant impact on the...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Blockchain is not a silver bullet for each and every problem in supply...

Textile Industry, Head honchos

Textile Industry
Head honchos

Blockchains will be in heavy use by early adopters by 2025

Textile Industry, Head honchos

Textile Industry
Head honchos

Good tidings expected for textile industry

Siddhant Sinha,

Siddhant Sinha

Set up by Pradeep Sinha, a graduate engineer from Manipal Institute of...

P V Kadole,

P V Kadole

Nine co-operative organisations from Ichalkaranji came together to form an ...

Tony Naschberger,

Tony Naschberger

With production sites in Klagenfurt and Kufstein, Zimmer Austria is a...

Pranesh Sridharan & Berndt Koll, Lenzing

Pranesh Sridharan & Berndt Koll
Lenzing

The Lenzing Group produces Lenzing Lyocell and Modal cellulosic fibres of...

Jacques Prigneaux, EDANA

Jacques Prigneaux
EDANA

EDANA has been the leading global association and voice of the nonwovens...

Daniel Roxbury, University of Rhode Island

Daniel Roxbury
University of Rhode Island

Assistant professor Daniel Roxbury and former URI graduate student...

Abhishek Bajaj & Samiksha Bajaj, Samshek

Abhishek Bajaj & Samiksha Bajaj
Samshek

Samshek is a fashion forward tech brand which combines digital experience...

Sweta Tantia, Tahweave & Garo

Sweta Tantia
Tahweave & Garo

Designer Sweta Tantia owns Garo, a couture indutva or ethnicwear brand,...

Seema Agrawal, Artisan Saga

Seema Agrawal
Artisan Saga

Artisan Saga, founded by Kaushik Rajani and Seema Agrawal, is an online...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


April 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search