USA: Cintas Reports Record Second Quarter 2001 Sales and Profits
The Cintas Corporation (Nasdaq: CTAS) has reported a rise of 16 per cent in total revenue for its second quarter from $466m last year to $539m this year.
It also reported that net income of $56.5m for the second quarter was 17 per cent higher than last year's second quarter, which reached $48.3m. Earnings per share advanced 14 per cent to 33 cents per share (diluted) from 29 cents.
Chairman of Cintas, Richard T Farmer said: "Our results again illustrate Cintas' ability to leverage its business base and take advantage of the tremendous market opportunities.
"All elements of our business continue to expand, with both existing and new customers. Further, we are combining that growth with strong profit performance."
Cintas' rental revenue was up 14 per cent from last year's second quarter. Other services revenue, which includes the sale of uniforms as well as the sale of other products and services, also rose, gaining 21 per cent over a year ago.
The strong second quarter results have also lead to healthy first half results that have seen Cintas continue its growth in the market.
Total revenue increased by 15 per cent to $1.06bn from $923m in the comparable prior period. Net income reached $107.4m, or 63 cents per share (diluted), up 17 per cent from $91.5m, or 54 cents, last year.
Over the six-month period, Cintas' rental revenue was up 14 per cent while other services revenue rose 19 per cent over a year ago.
"Cintas has reported 31 consecutive years of uninterrupted growth in sales and profits, and results for the first half of 2001 bode well for continuation of that record," Farmer said.
Headquartered in Cincinnati, Ohio, Cintas Corporation is a leader in the corporate identity uniform industry and also provides a wide range of ancillary services, including entrance mats, sanitation supplies, clean room services, and first aid products and services. Cintas is a publicly held company traded over the Nasdaq National Market under the symbol CTAS. Every day, more than 4 million people go to work in a Cintas uniform.
Companies: Cintas Corporation
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