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Speciality garments maker UniFirst declares Q3 & fiscal results

28 Jun '06
3 min read

The increase in income from operations in the core laundry business was primarily due to the strong revenue growth which also resulted in decreasing payroll and payroll related costs as a percentage of revenues. The increase was achieved despite energy costs which continue to be higher as a percentage of revenues than fiscal 2005.

The Company's Specialty Garments segment continues to show unfavorable comparisons to fiscal 2005 with income from operations decreasing approximately $3.5 million and $9.6 million in the comparable quarterly and nine month periods. This decrease in profitability of Specialty Garments is directly attributable to a decrease in revenues between comparable periods primarily due to the completion of a significant contract in fiscal 2005.

"We are pleased by the revenue growth we're seeing from our core laundry operations" said UniFirst President and Chief Executive Officer, Ron Croatti, "and we continue to be encouraged by general market conditions. We also believe our Specialty Garments segment is starting to get back on track, and that prospects for a return to growth in this business are favorable."

The Company will hold a conference call today at 4:00 PM (EDT) to discuss its quarterly financial results, business highlights and outlook. A simultaneous live webcast of the call will be available over the Internet and can be accessed at www.unifirst.com.

UniFirst is one of the largest providers of workplace uniforms, protective clothing and facility services products in North America. The Company employs approximately 9,500 team partners who serve approximately 190,000 customer locations in 46 states, Canada and Europe from 189 manufacturing, distribution and customer service facilities.

UniFirst Corporation

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