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Cintas Corp revenue rises 10.5% for Q2 fiscal 2007
21 Dec '06
3 min read
Cintas Corporation reported revenue for the second quarter of fiscal 2007 of $923.3 million, a 10.5% increase from the previous year's second quarter revenue of $835.8 million. Earnings per diluted share of $0.51 increased 10.9% from $0.46 per diluted share last year, and net income of $82.5 million increased 7.4% from $76.8 million last year.
Scott D. Farmer, President and Chief Executive Officer, stated, “I am proud to announce that we have achieved both revenue growth and earnings per share growth in excess of 10%. Our results are a tribute to the effort that our more than 32,000 employee partners make every day in servicing our 700,000 business customers."
"We continue to allocate capital and resources to grow the company at double digit rates while maintaining strong profit margins. This marks our sixth consecutive quarter of achieving revenue growth in excess of 10%.
“During the second quarter, we purchased approximately 660,000 shares of Cintas common stock under our authorized share buyback program at a cost of $27.5 million. Since the inception of this program, we have now bought back approximately 12.8 million of our outstanding shares at a cost of approximately $524 million."
"These purchases, coupled with acquisitions made during the second half of fiscal 2006, have increased our debt levels and in turn our interest expense. We are pleased to report a healthy 10.1% improvement in our earnings before interest and taxes over the second quarter of fiscal 2006.”
Scott D. Farmer, President and Chief Executive Officer, stated, “I am proud to announce that we have achieved both revenue growth and earnings per share growth in excess of 10%. Our results are a tribute to the effort that our more than 32,000 employee partners make every day in servicing our 700,000 business customers."
"We continue to allocate capital and resources to grow the company at double digit rates while maintaining strong profit margins. This marks our sixth consecutive quarter of achieving revenue growth in excess of 10%.
“During the second quarter, we purchased approximately 660,000 shares of Cintas common stock under our authorized share buyback program at a cost of $27.5 million. Since the inception of this program, we have now bought back approximately 12.8 million of our outstanding shares at a cost of approximately $524 million."
"These purchases, coupled with acquisitions made during the second half of fiscal 2006, have increased our debt levels and in turn our interest expense. We are pleased to report a healthy 10.1% improvement in our earnings before interest and taxes over the second quarter of fiscal 2006.”
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