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Cintas Corp total revenue rises 11% for Q1 fiscal 2007
25 Sep '06
2 min read
Uniform maker Cintas Corporation reported revenue for the first quarter of fiscal 2007 of $914.2 million, an 11.0 percent increase from the previous year's first quarter revenue of $823.5 million.
Net income of $85.0 million increased 8.3 percent from $78.4 million last year and earnings per diluted share of $0.53 increased 15.2 percent from $0.46 per diluted share last year.
Scott D. Farmer, President and Chief Executive Officer, stated, “On behalf of our Cintas employee partners, I am proud to report our first quarter results. We have again achieved double-digit revenue growth and delivered strong operating margins, despite increases in energy costs. Our earnings before interest and taxes improved a healthy 11.8 percent over the first quarter of fiscal 2006.”
Mr. Farmer continued, “The implementation of our new sales structure, which we announced a few months ago, continues to be on schedule. This new structure is designed to develop additional cross-selling opportunities and improve sales productivity. The new sales organization, in conjunction with our vast product and service offerings, is expected to drive improvements in future internal growth.”
Mr. Farmer commented, “Based on our sales results through the first quarter, a leveling off of energy costs as compared to the fourth quarter of fiscal 2006 and a less active hurricane season to date, we reiterate our fiscal 2007 guidance which calls for fiscal 2007 revenue of $3.77 to $3.85 billion and diluted earnings per share of $2.10 to $2.20. We expect fiscal 2007 to be another record year at Cintas, which would result in our 38th consecutive year of growth in sales and earnings.”
Headquartered in Cincinnati, Cintas Corporation provides highly specialized services to businesses of all types throughout North America. Cintas designs, manufactures and implements corporate identity uniform programs, and provides entrance mats, restroom supplies, promotional products, first aid and safety products, fire protection services and document management services for approximately 700,000 businesses.
Net income of $85.0 million increased 8.3 percent from $78.4 million last year and earnings per diluted share of $0.53 increased 15.2 percent from $0.46 per diluted share last year.
Scott D. Farmer, President and Chief Executive Officer, stated, “On behalf of our Cintas employee partners, I am proud to report our first quarter results. We have again achieved double-digit revenue growth and delivered strong operating margins, despite increases in energy costs. Our earnings before interest and taxes improved a healthy 11.8 percent over the first quarter of fiscal 2006.”
Mr. Farmer continued, “The implementation of our new sales structure, which we announced a few months ago, continues to be on schedule. This new structure is designed to develop additional cross-selling opportunities and improve sales productivity. The new sales organization, in conjunction with our vast product and service offerings, is expected to drive improvements in future internal growth.”
Mr. Farmer commented, “Based on our sales results through the first quarter, a leveling off of energy costs as compared to the fourth quarter of fiscal 2006 and a less active hurricane season to date, we reiterate our fiscal 2007 guidance which calls for fiscal 2007 revenue of $3.77 to $3.85 billion and diluted earnings per share of $2.10 to $2.20. We expect fiscal 2007 to be another record year at Cintas, which would result in our 38th consecutive year of growth in sales and earnings.”
Headquartered in Cincinnati, Cintas Corporation provides highly specialized services to businesses of all types throughout North America. Cintas designs, manufactures and implements corporate identity uniform programs, and provides entrance mats, restroom supplies, promotional products, first aid and safety products, fire protection services and document management services for approximately 700,000 businesses.
Cintas Corporation
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