Tuesday, March 16, 2004

3rd-quarter earnings up for Cintas

The Cincinnati Enquirer

Cintas Corp., the Mason uniform supplier, Monday reported a 13 percent increase in third-quarter earnings.

The earnings release came after the closing bell on the New York Stock Exchange. Shares had closed down 83 cents at $40.72.

For the three months ended Feb. 29, Cintas said net income was $66.5 million, or 39 cents a share, compared with $59 million, or 34 cents a share, in the same period last year. That matched analysts' estimates, according to a consensus provided by Nelson Information. Revenue rose 5 percent to $697 million.

Despite signs of improving business conditions, "we are generally not seeing any clear signs of headcount increases at our existing customers," CEO Scott Farmer said.

For the full-year ending in June, Cintas said it expects earnings of $1.55 to $1.59 a share and revenue ranging from $2.78 billion to $2.82 billion.

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