Angelica Corp's Q4 & FY 2005 financial results up 35.8%
12 Apr '06
3 min read
Selling, general and administrative (SG&A) expenses from continuing operations in fourth quarter fiscal 2005 were $14.0 million compared to $8.2 million in fourth quarter fiscal 2004. SG&A as a percent of revenue was 13.3 percent in fourth quarter fiscal 2005 versus 10.2 percent in fourth quarter fiscal 2004.
Income from continuing operations for fourth quarter fiscal 2005 was $1.1 million, or $0.12 per diluted share, compared to income from continuing operations of $2.5 million, or $0.27 per diluted share in the fourth quarter of fiscal 2004.
Fourth quarter fiscal 2005 loss from discontinued operations net of tax was $0.5 million, reflecting final operating and disposal costs associated with our third quarter fiscal 2005 exit from the St. Louis market, as well as the tax impact related to our second quarter fiscal 2004 sale of the Life Uniform retail business segment and other discontinued operations.
Including the discontinued operations, we recorded net income in the fourth quarter fiscal 2005 of $0.5 million, or $0.06 per diluted share, compared to net income of $3.1 million, or $0.34 per diluted share in the fourth quarter of fiscal 2004.
Income tax benefit for fiscal 2005 was $1.6 million, compared to a $2.4 million expense in fiscal 2004. Lower income tax expense in fiscal 2005 was primarily due to lower pretax income.
Income from continuing operations for fiscal 2005 was $2.3 million, or $0.25 per diluted share, compared to $10.7 million, or $1.18 per diluted share in fiscal 2004.
Net income for fiscal 2005 was $0.2 million, or $0.03 per diluted share compared to net income of $6.4 million, or $0.70 per diluted share, in fiscal 2004.
Angelica Corporation, traded on the New York Stock Exchange under the symbol AGL, is a leading provider of textile rental and linen management services to the U.S. healthcare market.
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