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UniFirst: Fiscal 4Q Earnings Snapshot

By The Associated Press | Oct 17, 2018 | Reprints | Unlock Link | Print

UniFirst Corp. on Wednesday reported fiscal fourth-quarter net income of $29.3 million, after reporting a loss in the same period a year earlier.

The Wilmington-based company said it had net income of $1.81 per share. Earnings, adjusted for non-recurring costs, came to $2.06 per share.

The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.64 per share.

The uniform provider posted revenue of $434.1 million in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $422 million.

For the year, the company reported profit of $133.8 million, or $8.21 per share. Revenue was reported as $1.7 billion.

UniFirst expects full-year earnings to be $6.65 to $7.05 per share, with revenue in the range of $1.77 billion to $1.79 billion.

UniFirst shares have declined slightly since the beginning of the year. The stock has increased almost 5 percent in the last 12 months.

B&T Daily