Originally published at www.seclive.com
Filing in Focus: Cintas 8-K, September 19, 2013
Cintas Corporation (NASDAQ:CTAS) announced its financial results for the first quarter of fiscal year 2014, reporting a 1.3% rise in earnings. The company's earnings increased from $76.7M this quarter last year to $77.8M, while earnings per share increased similarly from $0.60 to $0.63. Company revenue increased 6.6% to $1.12B while its gross margin tightened from 42.4% to 41.6%. Uniform-rental sales, the largest segment for the company, increased 5% but saw a slight decrease in its gross margin from 43.3% to 42.6%. Cintas raised its annual earnings per share guidance by $0.04 to $2.79 in order to offset the effects of a $147M stock repurchase of three million shares. CEO Scott Farmer commented that the company does not plan to change its guidance amidst an uncertain economy.
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