The U.S. jobless rate continues to affect Cintas Corp.’s business, and the uniform maker saw drops in profits and revenues during its fiscal second quarter.
Cintas posted second-quarter net income of $57.2 million, or 37 cents per share, compared to $71.8 million or 47 cents per share in the year-ago quarter. Total revenue was $884.5 million versus $985.2 million in second-quarter 2008. Analysts on average had expected revenues of $890 million and earnings per share of 43 cents.
“While job losses have moderated recently, 1.2 million jobs were lost during the last six months and we do not know when positive job growth will return,” said CEO Scott Farmer in a news release.
For the first half of fiscal 2010, Cintas reported net income of $111.2 million, or 72 cents per share, versus $150.5 million, or 98 cents per share in the same 2009 period. Total revenue fell to $1.78 billion from $2 billion.
Cintas (NASDAQ: CTAS) manufactures and supplies corporate identity uniforms and provides ancillary products and services to businesses worldwide.
« Fort to accelerate debt repayment – Taiwan Central Bank Keeps Rates at Record-Low 1.25% »
No comments yet.
Sorry, the comment form is closed at this time.
Powered by WordPress -- XHTML 1.0