Join        Login             Stock Quote

Unifirst (UNF) 1Q Earnings Jump 19.2 Pct, Beat Estimates; Lifts 2013 Forecast

 January 03, 2013 09:14 AM

(By Balaseshan) UniFirst Corp. (NYSE: UNF), a provider of workplace uniforms and protective work wear clothing, reported a 19.2% jump in quarterly earnings on improved operating leverage that came with its strong Core Laundry Operations revenue growth.

Earnings for the first quarter were $30.76 million or $1.54 per share, up from $25.80 million or $1.30 per share last year.

Revenue increased 6.2% to $332.57 million.

Analysts, on average, polled by Thomson Reuters had expected a profit of $1.33 per share on revenue of $327.27 million for the first quarter.

Revenue from Core Laundry Operations grew 8.2% to $294.6 million. Excluding the effect of a stronger Canadian dollar, revenues grew 8.0%.

[Related -Stock Market Opening Report - 01/04/2013]

Revenues for the Specialty Garments segment, which consists of nuclear decontamination and cleanroom operations, fell 7.9% to $27.9 million. First Aid revenue declined 3.4% to $10.13 million.

Looking ahead into the fiscal 2013, the company increased its earnings guidance to range of $5.10 to $5.25 per share from previous forecast of $4.65 to $4.85 per share.

UniFirst also lifted its revenue outlook to range of $1.335 billion to $1.348 billion from previous estimate of $1.325 billion to $1.338 billion. Street analysts predict profit of $4.82 per share on revenue of $1.33 billion for the fiscal 2013.

The company said its guidance assumes no deterioration of the U.S. economy and also includes one extra week of operations compared to fiscal 2012 due to the timing of its fiscal calendar.

[Related -Stock Market Opening Report - December 28,2012]

"Based on the strength of our first quarter and our current outlook for the remainder of the year, we are increasing our full year guidance," said Ronald Croatti, UniFirst President and Chief Executive Officer.

UNF closed Wednesday's regular session at $75.70. The stock has been trading between $55.86 and $77.73 for the past 52 weeks.



Post Comment -- Login is required to post message
Alert for new comments:
Your email:
Your Website:

rss feed

Latest Stories

article imageAutomating Ourselves To Unemployment

In this current era of central planning, malincentives abound. We raced to frack as fast we could for the read on...

article imageFed: Waiting For June… Or Godot?

The Federal Reserve left interest rates unchanged yesterday, as widely expected. But the possibility of a read on...

article imageThe Single Best Place To Invest Your Money For Retirement

It was never supposed to be this daunting. At least that's what we were read on...

article imageNegative Blowback From Negative Interest Rates

The Federal Reserve is widely expected to leave interest rates unchanged today. But perhaps standing pat read on...

Popular Articles

Daily Sector Scan
Partner Center

Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.