UniFirst Corp reports Q3 FY20 revenues of $445 mn

10 Jul '20

2 min read

Pic: UniFirst Corporation

UniFirst Corporation, a North American leader in the supply and servicing of uniform and workwear programmes, reported 1.8 per cent sales decline to $445.5 million in third quarter (Q3) FY20 ended on May 30, 2020, compared to sales of $453.7 million in same period last year. Net income for the quarter fell $21.2 million (Q3 FY19: $47.2 million).

“As a result of the phased reopening of businesses in many states, our revenues have partially recovered from the lower levels experienced during the quarter. However, due to the evolving nature of the pandemic and its impact on our communities, we continue to believe that our ability to assess the financial impact on our business remains limited,” Steven Sintros, UniFirst president and chief executive officer, said in a press release.

Company’s operating income for the quarter fell to $27.7 million ($60.2 million).

During Q2 FY20, revenues for core laundry operations segment decreased 2.8 per cent to $388.4 million. This was primarily due to the impact of state-mandated shutdowns of some of our customers’ businesses and reductions in workforce by some customers that remained open.

Revenues for specialty garments were down 3.1 per cent to $36.2 million due to lower direct sales in the US and Canadian nuclear operations partially offset by growth in our cleanroom and European nuclear operations.

However, First Aid segment’s revenue jumped 26 per cent to $20.9 million during the quarter due to higher safety and personal protective equipment sales.

Fibre2Fashion News Desk (JL)

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