UniFirst Corporation Reports Unaudited Consolidated Earnings Results for the First Quarter Ended November 25, 2017; Provides Earnings Guidance for the Fiscal 2018
January 03, 2018 at 08:59 am
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UniFirst Corporation reported unaudited consolidated earnings results for the first quarter ended November 25, 2017. For the quarter, the company reported revenues of USD 415.778 million compared to USD 386.108 million a year ago. Income from operations was USD 51.911 million compared to USD 45.757 million a year ago. Income before income taxes was USD 53.033 million compared to USD 46.064 million a year ago. Net income was USD 34.206 million compared to USD 28.214 million a year ago. Diluted income per share was USD 1.67 compared to USD 1.38 a year ago. Net cash provided by operating activities was USD 47.627 million compared to USD 63.499 million a year ago. Capital expenditures were USD 19.033 million compared to USD 18.233 million a year ago.
The company expects that fiscal 2018 revenues will be between USD 1.630 billion and USD 1.650 billion and full year diluted earnings per share will be between USD 5.10 and USD 5.30. This outlook includes the USD 0.07 per share impact of the adoption of ASU 2016-9 in first quarter. Outlook does not include any further tax benefits related to the adoption of this ASU for the remainder of the fiscal year. In addition, while The company expects future results to substantially benefit from the recent U.S. tax reform, earnings per share guidance also does not reflect this impact as analysis is preliminary.
UniFirst Corporation provides workplace uniforms and protective work wear clothing in the United States. The Company operates through five segments: The U.S. and Canadian Rental and Cleaning, Manufacturing (MFG), Specialty Garments Rental and Cleaning (Specialty Garments), First Aid and Corporate. The U.S. and Canadian Rental and Cleaning segment purchases, rents, cleans, delivers, and sells, uniforms and protective clothing and non-garment items in the United States and Canada. The MFG segment designs and manufactures uniforms and non-garment items primarily for the purpose of providing these goods to the United States and Canadian Rental and Cleaning segment. The Specialty Garments segment purchases, rents, cleans, delivers, and sells, specialty garments and non-garment items primarily for nuclear and cleanroom applications and provides cleanroom cleaning services at limited customer locations. The First Aid segment sells first aid cabinet services and other safety supplies.
UniFirst Corporation Reports Unaudited Consolidated Earnings Results for the First Quarter Ended November 25, 2017; Provides Earnings Guidance for the Fiscal 2018
UNIFIRST CORPORATION 
