$UNF (UniFirst Corp.)

$UNF {{ '2016-06-29T13:53:16+0000' | timeago}} • Announcement

Uniform rental company $UNF reported lower 3Q16 results hurt by higher expenses and lower revenue from Specialty Garments segment. Net income fell 7.26% to $30.14MM or $1.49 per diluted share from $32.5MM or $1.61 per diluted share a year ago. Revenue rose marginally by 0.61% to $367.8MM for the quarter.

$UNF {{ '2017-09-21T18:49:02+0000' | timeago}} • Announcement

$UNF said it expects a non-cash charge of $50-$60MM related to impairment of the capital costs involved in its CRM systems project. The after-tax impact of the charge, which was recognized in 4Q17, is expected to be between $31MM and $37MM. The project had experienced multiple delays due to quality issues.

$UNF {{ '2017-07-31T18:06:39+0000' | timeago}} • Announcement

$UNF has named Steven Sintros as its next President and CEO, and also inducted him into its BoD with immediate effect. He succeeds Ronald Croatti, who passed away in May 2017 after serving 26 years as the company’s Chief Executive.

$UNF {{ '2017-06-28T18:20:35+0000' | timeago}} • Webcast

$UNF expects 4Q17 revenue to be more similar to last year, which is causing some of that sequential decline. $UNF said the direct sales related to the Arrow acquisition in 3Q won't be at the same levels in 4Q. Also there is always some sequential drop-off in some of its core business seasonality wise, the company said.

$UNF {{ '2017-06-28T18:14:19+0000' | timeago}} • Webcast

$UNF's revenues for specialty garment segment for 3Q17 increased 24% to $29.9MM from last year, on planned increases and reactor outages and other products in its U.S. and Canadian nuclear operations. $UNF said this segment's results can vary significantly due to seasonality and the timing of nuclear reactor outages and projects.

$UNF {{ '2017-06-28T18:11:03+0000' | timeago}} • Webcast

$UNF's core laundry operations, which make up 90% of its total business, reported revenues for 3Q17 at $367.1MM, up 10.8% from last year. During 3Q17, $UNF benefited from improved ad over-reductions compared to a year ago, as well as a positive price environment and increased collections on merchandize recovery charges.

$UNF {{ '2017-06-28T12:23:24+0000' | timeago}} • Announcement

$UNF lifted FY17 revenue outlook to $1.573-1.58Bil from $1.55-1.565Bil. This is based on the stronger than expected top line results to date. The company still expects full year 2017 EPS of $4.85-5.00. This earning guidance includes the impact of $5.4MM of additional stock compensation expense.

$UNF {{ '2017-06-28T12:18:28+0000' | timeago}} • Announcement

$UNF reported a drop in 3Q17 earnings due to higher costs and expenses as well as inclusion of the effect of its acquisition of Arrow Uniform. Net income fell to $24.36MM or $1.19 per share from $30.14MM or $1.49 per share last year. Revenue grew 11.4% to $409.83MM. Excluding effect of accelerated vesting, adjusted EPS declined 8.1% to $1.36.

$UNF {{ '2017-06-06T16:07:09+0000' | timeago}} • Announcement

$UNF said that following the death of Ronald Croatti, its Chairman, President and CEO, the BoD has appointed an Executive Management Committee. The Executive Management Committee will lead the company on an interim basis and direct its strategies, operations and business activities while the Board conducts the process of selecting a new CEO.

$UNF {{ '2017-05-24T16:31:57+0000' | timeago}} • Announcement

$UNF mourns the loss of Chairman, President and CEO Ronald Croatti as a result of complications associated with pneumonia. $UNF's BoD will promptly begin the process to select a new CEO and will consider the company's interim management arrangements.

$UNF {{ '2017-03-29T15:12:29+0000' | timeago}} • Webcast

$UNF expects to pilot its new customer relationship management (CRM) computer system at the beginning of FY18. The company said it will start fully rolling out the system after two months pilot period.

$UNF {{ '2017-03-29T12:48:03+0000' | timeago}} • Announcement

Earlier, $UNF expected FY17 revenues at $1.55-1.56Bil with diluted EPS at $4.85-5.00. "We now expect that our full year results will come in at the higher ends of these previously communicated ranges,” said UniFirst CEO Ronald D. Croatti.

$UNF {{ '2017-03-29T12:47:13+0000' | timeago}} • Announcement

In 2Q17, core laundry revenues for $UNF were up 8.2% to $358.4MM. For the quarter, revenues from Specialty Garments segment were $21.8MM, and First Aid revenues were $11.2MM. As of February 25, 2017, UniFirst's cash and cash equivalents were at $313.5MM.

$UNF {{ '2017-03-29T12:43:22+0000' | timeago}} • Announcement

$UNF posted a 4.2% dip in net income to $22.5MM or $1.10 per diluted share in 2Q17 from $23.5MM or $1.16 per diluted share, impacted by the Arrow Uniform acquisition completed in Sept. 2016. Revenues for the quarter went up 7.8% to $391.4MM.

$UNF {{ '2017-01-04T15:53:47+0000' | timeago}} • Webcast

$UNF stated that the revenue contribution from the Arrow Uniform acquisition was approx. $12.5MM in 1Q17. The company added that going forward, as the operations are integrated, it would become difficult to provide specific revenue numbers related to Arrow.

$UNF {{ '2017-01-04T15:44:43+0000' | timeago}} • Webcast

$UNF said it did not see any significant impacts from the Arrow Uniform acquisition thus far. For the next nine months, the company intends to make changes with regards to the movements of business and equipment. The company’s main focus currently is to build a sales organization which it intends to start in six months time.

$UNF {{ '2017-01-04T15:35:02+0000' | timeago}} • Webcast

At 1Q17-end, $UNF’s cash and cash equivalents totaled $286.1MM. For 1Q17, Capex totaled $18.2MM. The company expects Capex for FY17 to be $90-100MM.

$UNF {{ '2017-01-04T15:30:13+0000' | timeago}} • Webcast

$UNF's First Aid segment reported revenues of $11.9MM in 1Q17, up 2.9% from a year ago. Operating income for this segment decreased slightly to $0.9MM compared to 1Q16.

$UNF {{ '2017-01-04T15:24:46+0000' | timeago}} • Webcast

In 1Q17, $UNF’s Core Laundry segment revenues were $351.8MM, up 5% from 1Q16. Adjusting for the effect of acquisitions, primarily the Arrow Uniform acquisition, Core Laundry revenues grew 0.6%. Revenues from the Specialty Garments segment, which consists of nuclear decontamination and cleanroom operations, declined 16.5% versus 1Q16.

$UNF {{ '2017-01-04T13:37:00+0000' | timeago}} • Announcement

CEO Ronald Croatti said $UNF's 1Q growth was affected by the loss of uniform wearers and customers in North American energy-dependent markets. Wearer levels at the existing customers have shown improvement which suggests energy-related headwinds may be subsiding. If these trends continue, organic growth rates should improve as FY17 unfolds.

$UNF {{ '2017-01-04T13:29:06+0000' | timeago}} • Announcement

$UNF still expects its FY17 revenue to be $1.55-1.565Bil. However, the company lowered its FY17 EPS guidance to $4.85-5.00 range from prior estimate of $5.00-5.15. CEO Ronald Croatti said that although the year is unfolding mostly as expected, certain items, including workers' compensation claims and other operating expenses are trending higher.

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