USA: UniFirst Announces Results For 2001 First Quarter
UniFirst Corporation, providers of workplace uniforms and protective clothing, has announced revenues and earnings for its fiscal 2001 first quarter, the thirteen weeks ended November 25, 2000.
Revenues for the first quarter of fiscal 2001 were a record $141.0m, a seven per cent increase from $131.8m in the same period a year ago. First quarter net income was $7.1m, or $0.36 per share, a 30.9 per cent increase from last year's comparable quarter of $5.5m, or $0.28 per share.
Ronald D Croatti, UniFirst's president and chief executive officer, said: "Revenue growth for the quarter was in line with our expectations.
"The improvement in our profit margin was due primarily to lower merchandise costs. The quarter was also favorably impacted by a $1.1m settlement received in a lawsuit related to the company's nuclear garment services business. We had a strong first quarter and we're optimistic that fiscal 2001 will be a good year."
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