UNF FY 2010 Earnings Report — UniFirst Corporation Revenue & Financial Results | Market Cap Arena

UniFirst CorporationUNF

FY 2010 Earnings

Reported October 27, 2010

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2010	Prior Q	FY 2009	QoQ Change	YoY Change
Revenue	$1.0B	—	$1.0B	—	1.2%
Op. Income	$130M	—	$134M	—	-2.8%
Gross Margin	39.5%	—	39.8%	—	-0.3pp
Net Margin	7.4%	—	7.5%	—	-0.0pp
EPS (Diluted)	$3.92	—	$3.92	—	0.0%
Free Cash Flow	$84M	—	$94M	—	-10.6%

Revenue Flow

Item	Amount
REVENUE	$1.0B
Cost of Revenue	$621M
GROSS PROFIT	$405M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$213M
Other Expenses	$61M
Operating Expenses	$275M
Cost & Expenses	$896M
OPERATING INCOME	$130M
Interest Income	$2M
Interest Expense	$9M
Other Income/Expenses	-$7M
INCOME BEFORE TAX	$123M
Income Tax Expense	$46M
Net Income from Continuing Ops	$76M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$76M
Net Income Deductions	-$581.0K
BOTTOM LINE NET INCOME	$76M
D&A	$61M
EBIT	$132M
EBITDA	$193M
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$1.0B
Cost of Revenue	$621M
GROSS PROFIT	$405M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$213M
Other Expenses	$61M
Operating Expenses	$275M
Cost & Expenses	$896M
OPERATING INCOME	$130M
Interest Income	$2M
Interest Expense	$9M
Other Income/Expenses	-$7M
INCOME BEFORE TAX	$123M
Income Tax Expense	$46M
Net Income from Continuing Ops	$76M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$76M
Net Income Deductions	-$581.0K
BOTTOM LINE NET INCOME	$76M
D&A	$61M
EBIT	$132M
EBITDA	$193M
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$76M
Depreciation & Amortization	$61M
Stock-Based Compensation	$4M
Deferred Income Tax	$705.0K
Other Non-Cash Items	$2M
Change in Working Capital	-$10M
OPERATING CASH FLOW	$134M
Capital Expenditure	-$50M
Acquisitions (Net)	-$21M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$2M
NET CASH FROM INVESTING	-$73M
Net Debt Issuance	-$263.0K
Common Stock Repurchased	$0
Common Dividends Paid	-$3M
Other Financing Activities	$1M
NET CASH FROM FINANCING	-$2M
FREE CASH FLOW	$84M
Net Change in Cash	$61M

Balance Sheet

Item	Amount
Cash & Equivalents	$121M
Short-Term Investments	$0
Net Receivables	$105M
Inventory	$48M
Other Current Assets	$87M
TOTAL CURRENT ASSETS	$378M
PP&E (Net)	$381M
Goodwill	$272M
Intangible Assets	$59M
Long-Term Investments	$0
Tax Assets	$0
Other Non-Current Assets	$2M
TOTAL NON-CURRENT ASSETS	$714M
TOTAL ASSETS	$1.1B
Account Payables	$46M
Short-Term Debt	$81M
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$211M
Long-Term Debt	$100M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$43M
Other Non-Current Liabilities	$30M
TOTAL NON-CURRENT LIABILITIES	$173M
TOTAL LIABILITIES	$384M
Common Stock	$2M
Additional Paid-In Capital	$25M
Retained Earnings	$679M
Treasury Stock	$0
Accum. Other Comp. Income	$2M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$708M
Minority Interest	$0
TOTAL EQUITY	$708M
TOTAL LIABILITIES & EQUITY	$1.1B
Total Debt	$181M
Net Debt	$60M