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UniFirst announces financial results for Q4 2006 & full year
19 Oct '06
3 min read
Without these adjustments, the Company's diluted earnings per share for the fourth quarter and full year of fiscal 2006 would have been $0.51 and $1.99, respectively.
For the full year periods, net income decreased primarily due to a decrease in income from operations for the Company's Specialty Garments segment from $6.9 million in fiscal 2005 to $0.4 in fiscal 2006.
The decrease in profitability of Specialty Garments is attributable to reduced revenues between comparable periods, primarily due to the completion of a significant contract in fiscal 2005.
The increase in quarterly net income is primarily due to the decrease in loss from operations of the Company's Specialty Garments segment from $3.2 million in the fourth quarter of fiscal 2005 to $0.2 million in the fourth quarter of fiscal 2005.
The Company's results were also affected by higher interest expense for both the quarterly and annual periods as compared to fiscal 2005.
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.
For the full year periods, net income decreased primarily due to a decrease in income from operations for the Company's Specialty Garments segment from $6.9 million in fiscal 2005 to $0.4 in fiscal 2006.
The decrease in profitability of Specialty Garments is attributable to reduced revenues between comparable periods, primarily due to the completion of a significant contract in fiscal 2005.
The increase in quarterly net income is primarily due to the decrease in loss from operations of the Company's Specialty Garments segment from $3.2 million in the fourth quarter of fiscal 2005 to $0.2 million in the fourth quarter of fiscal 2005.
The Company's results were also affected by higher interest expense for both the quarterly and annual periods as compared to fiscal 2005.
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.
UniFirst Corporation
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