Cintas Posts Lower Q4 Profit

(RTTNews) - Corporate uniform supplier Cintas Corp. (CTAS) reported net income for the first quarter of $105.2 million or $0.90 per share, compared to $127.2 million or $1.03 per share for the year-ago quarter.

Excluding discontinued operations, income or loss on Shred-it investment, and certain other impacts, adjusted earnings for the latest quarter was $0.86 per share.

Total revenue for the fourth quarter grew 0.7% to $1.14 billion from $1.13 billion a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.85 per share on revenue of $1.15 billion for the fourth quarter. Analysts' estimates typically exclude special items.

Looking forward to the fiscal year 2016, the company forecasts revenue of $4.70 billion to $4.78 billion and earnings of $3.74 to $3.83 per share. Analysts currently expect the company to earn $3.74 per share on revenue of $4.77 billion for the fiscal year 2016.