UNF FY 2009 Earnings Report — UniFirst Corporation Revenue & Financial Results | Market Cap Arena

UniFirst CorporationUNF

FY 2009 Earnings

Reported November 12, 2009

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2009	Prior Q	FY 2008	QoQ Change	YoY Change
Revenue	$1.0B	—	$1.0B	—	-1.0%
Op. Income	$134M	—	$109M	—	23.4%
Gross Margin	39.8%	—	37.1%	—	2.8pp
Net Margin	7.5%	—	6.0%	—	1.5pp
EPS (Diluted)	$3.92	—	$3.15	—	24.4%
Free Cash Flow	$94M	—	$46M	—	105.5%

Revenue Flow

Item	Amount
REVENUE	$1.0B
Cost of Revenue	$610M
GROSS PROFIT	$404M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$212M
Other Expenses	$58M
Operating Expenses	$270M
Cost & Expenses	$879M
OPERATING INCOME	$134M
Interest Income	$2M
Interest Expense	$9M
Other Income/Expenses	-$8M
INCOME BEFORE TAX	$126M
Income Tax Expense	$51M
Net Income from Continuing Ops	$76M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$76M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$76M
D&A	$58M
EBIT	$136M
EBITDA	$194M
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$1.0B
Cost of Revenue	$610M
GROSS PROFIT	$404M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$212M
Other Expenses	$58M
Operating Expenses	$270M
Cost & Expenses	$879M
OPERATING INCOME	$134M
Interest Income	$2M
Interest Expense	$9M
Other Income/Expenses	-$8M
INCOME BEFORE TAX	$126M
Income Tax Expense	$51M
Net Income from Continuing Ops	$76M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$76M
Net Income Deductions	$0
BOTTOM LINE NET INCOME	$76M
D&A	$58M
EBIT	$136M
EBITDA	$194M
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$76M
Depreciation & Amortization	$58M
Stock-Based Compensation	$1M
Deferred Income Tax	$1M
Other Non-Cash Items	$784.0K
Change in Working Capital	$22M
OPERATING CASH FLOW	$159M
Capital Expenditure	-$65M
Acquisitions (Net)	-$5M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	$304.0K
NET CASH FROM INVESTING	-$70M
Net Debt Issuance	-$53M
Common Stock Repurchased	$0
Common Dividends Paid	-$3M
Other Financing Activities	$689.0K
NET CASH FROM FINANCING	-$55M
FREE CASH FLOW	$94M
Net Change in Cash	$34M

Balance Sheet

Item	Amount
Cash & Equivalents	$60M
Short-Term Investments	$0
Net Receivables	$98M
Inventory	$44M
Other Current Assets	$73M
TOTAL CURRENT ASSETS	$302M
PP&E (Net)	$383M
Goodwill	$261M
Intangible Assets	$60M
Long-Term Investments	-$25M
Tax Assets	$25M
Other Non-Current Assets	$2M
TOTAL NON-CURRENT ASSETS	$706M
TOTAL ASSETS	$1.0B
Account Payables	$41M
Short-Term Debt	$6M
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$154M
Long-Term Debt	$176M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$45M
Other Non-Current Liabilities	$0
TOTAL NON-CURRENT LIABILITIES	$228M
TOTAL LIABILITIES	$382M
Common Stock	$2M
Additional Paid-In Capital	$20M
Retained Earnings	$605M
Treasury Stock	$0
Accum. Other Comp. Income	-$300.0K
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$627M
Minority Interest	$0
TOTAL EQUITY	$627M
TOTAL LIABILITIES & EQUITY	$1.0B
Total Debt	$182M
Net Debt	$122M