UniFirst net sales jump 18.7% for nine months of fiscal 2005
30 Jun '05
3 min read
Lower merchandise amortization for locations acquired as part of the Textilease acquisition was less of a benefit in the third quarter of fiscal 2005 than it was in the first six months.
These benefits were somewhat offset by higher energy costs associated with operating industrial laundries as well as in utilizing our fleet of delivery vehicles and an increase in selling payroll costs as the Company has increased its sales force in fiscal 2005.
The Company also continues to benefit from lower depreciation and intangible asset amortization expenses due to certain fixed assets and certain intangible assets becoming fully depreciated and amortized in fiscal 2004. This decrease in depreciation is also due to a $600 thousand pre-tax charge to depreciation taken in the third quarter of fiscal 2004 related to the Company's decision to close its Richmond facility.
In addition, decreased interest expense, on a net basis, continues to benefit fiscal 2005 as compared to fiscal 2004 primarily due to the reduction in the average level of debt outstanding.
UniFirst is one of the largest providers of workplace uniforms, protective clothing and facility services products in North America. The Company employs 9,000 team partners who serve more than 175,000 customer locations in 46 states, Canada and Europe from 175 manufacturing, distribution and customer service facilities.e Ce Company employs 9,000 team partners who serve more than 175,000 customer locations in 46 states, Canada and Europe from 175 manufacturing, distribution and customer service facilities.
marketing@alchempro.com
