Cintas Q1 Profit Tops Estimate

(RTTNews) - Cintas Corp. (CTAS) reported net income for the first quarter of $110.1 million or $0.93 per share, compared to $77.8 million or $0.63 per share for the year-ago quarter.

The latest quarter EPS was positively impacted by $0.15 due to a gain from the sale of stock in an equity method investment and a gain from receiving additional proceeds relating to the Shred-it deal.

Excluding items, adjusted net income for the third quarter was $92.4 million or $0.78 per share, compared to $76.5 million or $0.62 per share in the prior year quarter.

Revenue for the first quarter grew 0.2% to $1.102 billion from $1.100 billion a year ago.

Analysts polled by Thomson Reuters expected the company to earn $0.75 per share on revenue of $1.10 billion for the first quarter. Analysts' estimates typically exclude special items.

For the fiscal 2015, the company now forecasts revenue of $4.40 billion to $4.475 billion, earnings of $3.20 to $3.29 per share and adjusted earnings of $3.05 to $3.14 per share. Previously, the company forecast revenue of $4.425 billion to $4.525 billion and earnings of $3.06 to $3.15 per share.

Analysts currently expect the company to earn $3.09 per share on revenue of $4.50 billion for the fiscal year 2015.