UniFirst speciality garments segment performance down for Q2
31 Mar '06
3 min read
UniFirst, provider of Uniforms and Work Apparel announced its revenues and earnings for its fiscal 2006-second quarter and first half of fiscal 2006, which ended February 25, 2006.
Revenues were a record $202.2 million and $401.5 million for the second quarter and first half of fiscal 2006, respectively. These revenues represent an increase of 6.0 percent and 5.9 percent, respectively, from the $190.7 million and $379.1 million in the comparable 2005 periods.
This revenue growth was achieved despite a decrease in revenues for the Company's Specialty Garments (nuclear and clean room) segment of 24.0 percent and 22.4 percent for the quarter and six-month periods, respectively. Revenue from the Company's core laundry business grew 8.5 percent in both the quarter and six month periods as compared to fiscal 2005.
Second quarter net income was $6.3 million or $0.33 per diluted common share compared to last year's second quarter net income of $10.1 million, or $0.52 per diluted common share. Net income for the first six months of fiscal 2006 was $17.7 million or $0.92 per diluted common share compared to $23.4 million, or $1.21 per diluted common share for the comparable period in 2005.
The primary reason for this decrease in net income was the Company's Specialty Garments segment. This segment's income from operations decreased approximately $2.8 million and $5.9 million in the comparable quarterly and six month periods. This decrease in profitability of Specialty Garments is directly attributable to a decrease in revenues between comparable periods.
marketing@alchempro.com
