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UniFirst Corp. Reports Operating Results (10-Q)
Posted by: gurufocus (IP Logged)
Date: January 3, 2013 03:07PM
UniFirst Corp. (UNF) filed Quarterly Report for the period ended 2012-11-24.
Highlight of Business Operations:For the thirteen weeks ended November 24, 2012, our consolidated revenues increased by $19.5 million from the comparable period in fiscal 2012, or 6.2%. This increase was due to a $22.3 million increase in revenues from our core laundry operations. Core laundry operations revenues increased to $294.6 million for the thirteen weeks ended November 24, 2012 from $272.3 million for the comparable period of fiscal 2012, or 8.2%. This increase in the core laundry operations revenue was attributable to positive organic growth of 8.0%. The core laundry operations revenue growth also benefited from the effect of favorable fluctuations in the Canadian foreign exchange rate, which accounted for a 0.2% increase in revenue for the thirteen weeks ended November 24, 2012 compared to the comparable period in fiscal 2012.
Our depreciation and amortization expense was $16.8 million, or 5.0% of revenues, for the thirteen weeks ended November 24, 2012 compared to $16.4 million, or 5.2% of revenues, for the thirteen weeks ended November 26, 2011. The increase in depreciation and amortization expense was due to capital expenditure and acquisition activity in earlier periods.
Stocks Discussed: UNF,