Revenues for the fourth fiscal quarter ended May 31, 2015 at uniform services provider and US based Cintas Corporation were flat over the same quarter of fiscal 2014.
In a press release, Cintas said its revenue for the fourth quarter of fiscal 2015 totalled to $1.14 billion, up by just 0.7 per cent over the fourth quarter of fiscal 2014, while organic growth was 6.0 per cent.
Fiscal 2015 fourth quarter gross profit was $486.7 million, or 42.6 per cent of revenue, compared to fiscal 2014 fourth quarter gross profit of $456.2 million, or 42.2 per cent of revenue.
In the reporting quarter, operating profit touched $177.7 million or 15.6 per cent of revenue as against $166.4 million or 15.4 per cent in the prior fiscal fourth quarter.
Net income from continuing operations and EPS from continuing operations, as adjusted, increased over the fiscal 2014 fourth quarter by 6.3 per cent and 11.7 per cent, respectively.
“Fourth quarter EPS, excluding discontinued operations, income or loss on Shred-it investment, and certain other impacts, was $0.86, representing an increase of 11.7 per cent over the prior year period,” it added.
Revenue for the full fiscal amounted to $4.48 billion, here to up by just 0.2 per cent over its previous fiscal. However, it reported organic growth at 7.1 per cent for fiscal 2015.
For the full fiscal of 2015, gross profit improved to $1,921.3 million, or 42.9 per cent of revenue from adjusted gross margin of $1,749.8 million, or 41.7 per cent of revenue in fiscal 2014, up 9.8 per cent.
Net income in fiscal 2015 from continuing operations and EPS from continuing operations, as adjusted, surged over fiscal 2014 by 17.5 per cent and 21.8 per cent, respectively.
Earnings per diluted share, excluding discontinued operations, income or loss on Shred-it investment, and certain other impacts, were $3.35 or a massive rise of 21.8 per cent over fiscal 2014.
During the fourth quarter and into the first quarter of fiscal 2016, Cintas purchased 4.4 million shares of common stock at a cost of $370.0 million.
This share buyback, according to Cintas had a positive impact of $0.01 on fourth quarter EPS since it occurred so late in the fourth quarter and into the first quarter of fiscal 2016.
As of July 16, 2015, the Company has $130.0 million available under the current board of directors stock repurchase authorisation.
The total share purchases included acquiring 2.9 million shares at an aggregate cost of approximately $237.1 million during the fourth quarter.
The remaining 1.5 million shares were purchased between the start of fiscal 2016 and July 16, 2015 at an aggregate cost of approximately $132.9 million.
For fiscal 2016, Cintas expects revenue to be in the range of $4.70 billion to $4.78 billion earnings per share to be in the range of $3.74 to $3.83. (AR)
Fibre2Fashion News Desk - India