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

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 27th Feb 2020

Australia willing to consider FTA with India on RCEP lines

Australia is willing to consider a bilateral free trade agreement...

Pic: Shutterstock

Apparel/Garments | On 27th Feb 2020

Hun Sen asks PRC garment investors not to leave Cambodia

Prime Minister Hun Sen recently again told Chinese garment sector...

Pic: Shutterstock

Textiles | On 27th Feb 2020

ADD removal on PTA respite to man-made textiles: Ind-Ra

The withdrawal of anti-dumping duty (ADD) on purified terephthalic...

Interviews View All

Karel Williams, Dow Microbial Control

Karel Williams
Dow Microbial Control

'Silvadur is most rapidly adopted in areas where hygiene-conscious and...

Saket Garg, Garg Corporation

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Abhishek Ganguly, Puma India

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Eric Fessler,

Eric Fessler

Manufacturer of textile machinery and complete fibre-to-yarn lines, N...

Cem Erdogrul,

Cem Erdogrul

Turkey-based Temsan Air Engineering is one of the leading manufacturers of ...

Karen Lou,

Karen Lou

Australia-based Sunseeker has been creating swimwear since 1970. Sunseeker ...

Hemant Bheda, Arevo

Hemant Bheda

Arevo, based in Silicon Valley in California, develops technology to...

Michaela Griggs & Peggy Schulz, Barco Uniforms

Michaela Griggs & Peggy Schulz
Barco Uniforms

Founded in 1929, Barco Uniforms started as an apparel company for beauty...

Shujaul Rehman, Garware Technical Fibres

Shujaul Rehman
Garware Technical Fibres

Garware Technical Fibres Ltd (formerly Garware-Wall Ropes Ltd) is a...

Mike Hoffman, Gildan Activewear SRL

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Akta Adani, India Boulevard

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Chandani Sahi, By Chandani

Chandani Sahi
By Chandani

By Chandani is a womenswear prêt couture brand with fusion silhouettes by...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies


Leave your Comments

February 2020

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

Advanced Search