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Aaron Spatz is the writer of SEC Live Filings Digest, detailing the news of companies trading on U.S. stock exchanges. The Filings Digest is but one component of the greater website SEC Live, which specializes in making SEC filings easy to read, research, navigate, and much more.
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  • Cintas Revenue And Earnings Climb 0 comments
    Mar 20, 2014 11:00 AM | about stocks: CTAS

    Originally published at www.seclive.com

    Filing in Focus: Cintas 8-K, March 19, 2014

    Cintas Corporation (NASDAQ:CTAS) announced its financial results for the third quarter of fiscal year 2014, reporting a climb in revenue and earnings. The uniform and corporate services company posted a 5.1% revenue increase from a year-ago to $1.13B, or a 3.5% improvement when equalizing the number of work days between quarters. Operating income improved 12.9% from $133.0M to $150.2M while net income rose from $74.7M and $0.60 per share last year to $84.6M and $0.69 per share. Cintas also announced an agreement with Shred-it International, through which each business will contribute to a document shredding partnership, with 42% owned by Cintas and the remainder owned by Shred-it shareholders. Cintas expects to receive around $180M cash when the transaction closes, sometime before May 31. Regarding company performance, CEO Scott Farmer commented that even with poor weather and a weak Canadian dollar the company produced double-digit earnings growth.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

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