G&K Services reports fiscal 2007 Q4 & full year results
14 Aug '07
2 min read
Earnings per diluted share increased to $2.02 in fiscal 2007 from $1.97 in fiscal 2006. Record net income for fiscal 2007 reflects higher operating income driven by strong revenue growth and productivity improvements, offset by increased selling expenses, energy costs and a higher effective tax rate.
In addition, this record level of net income was achieved despite the impact of the company's strategic investments to drive long-term revenue and earnings growth.
"During the year, we continued to advance our strategic plan by enhancing our market segmentation programs, increasing our investment in sales initiatives and implementing handheld technology across our routes," Marcantonio added.
"In addition, we signed an exclusive strategic agreement with Dockers San Francisco to further strengthen our direct sale capabilities, completed two acquisitions to expand our market presence and announced a share repurchase program to drive greater shareholder value."
marketing@alchempro.com
