UNF FY 2011 Earnings Report — UniFirst Corporation Revenue & Financial Results | Market Cap Arena

UniFirst CorporationUNF

FY 2011 Earnings

Reported October 26, 2011

Quarter Comparison

Revenue

Operating Income

Gross Margin

Net Margin

EPS (Diluted)

Free Cash Flow

Metric	FY 2011	Prior Q	FY 2010	QoQ Change	YoY Change
Revenue	$1.1B	—	$1.0B	—	10.5%
Op. Income	$124M	—	$130M	—	-4.8%
Gross Margin	37.2%	—	39.5%	—	-2.3pp
Net Margin	6.7%	—	7.4%	—	-0.7pp
EPS (Diluted)	$3.85	—	$3.92	—	-1.8%
Free Cash Flow	$22M	—	$84M	—	-73.4%

Revenue Flow

Item	Amount
REVENUE	$1.1B
Cost of Revenue	$712M
GROSS PROFIT	$422M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$233M
Other Expenses	$65M
Operating Expenses	$298M
Cost & Expenses	$1.0B
OPERATING INCOME	$124M
Interest Income	$3M
Interest Expense	$7M
Other Income/Expenses	-$3M
INCOME BEFORE TAX	$121M
Income Tax Expense	$44M
Net Income from Continuing Ops	$76M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$76M
Net Income Deductions	-$1M
BOTTOM LINE NET INCOME	$75M
D&A	$65M
EBIT	$127M
EBITDA	$190M
EPS	$4
EPS Diluted	$4

Income Statement

Item	Amount
REVENUE	$1.1B
Cost of Revenue	$712M
GROSS PROFIT	$422M
R&D Expenses	$0
Selling & Marketing	$0
General & Administrative	$0
SG&A Expenses	$233M
Other Expenses	$65M
Operating Expenses	$298M
Cost & Expenses	$1.0B
OPERATING INCOME	$124M
Interest Income	$3M
Interest Expense	$7M
Other Income/Expenses	-$3M
INCOME BEFORE TAX	$121M
Income Tax Expense	$44M
Net Income from Continuing Ops	$76M
Net Income from Discontinued Ops	$0
Other Adjustments	$0
NET INCOME	$76M
Net Income Deductions	-$1M
BOTTOM LINE NET INCOME	$75M
D&A	$65M
EBIT	$127M
EBITDA	$190M
EPS	$4
EPS Diluted	$4

Cash Flow Statement

Item	Amount
Net Income	$76M
Depreciation & Amortization	$65M
Stock-Based Compensation	$7M
Deferred Income Tax	$13M
Other Non-Cash Items	$2M
Change in Working Capital	-$77M
OPERATING CASH FLOW	$86M
Capital Expenditure	-$64M
Acquisitions (Net)	-$33M
Purchases of Investments	$0
Sales/Maturities of Investments	$0
Other Investing Activities	-$397.0K
NET CASH FROM INVESTING	-$97M
Net Debt Issuance	-$61M
Common Stock Repurchased	$0
Common Dividends Paid	-$3M
Other Financing Activities	$385.0K
NET CASH FROM FINANCING	-$64M
FREE CASH FLOW	$22M
Net Change in Cash	-$72M

Balance Sheet

Item	Amount
Cash & Equivalents	$49M
Short-Term Investments	$0
Net Receivables	$128M
Inventory	$76M
Other Current Assets	$11M
TOTAL CURRENT ASSETS	$395M
PP&E (Net)	$395M
Goodwill	$288M
Intangible Assets	$61M
Long-Term Investments	-$11M
Tax Assets	$11M
Other Non-Current Assets	$2M
TOTAL NON-CURRENT ASSETS	$746M
TOTAL ASSETS	$1.1B
Account Payables	$56M
Short-Term Debt	$20M
Deferred Revenue	$0
Other Current Liabilities	$0
TOTAL CURRENT LIABILITIES	$153M
Long-Term Debt	$100M
Deferred Revenue NC	$0
Deferred Tax Liabilities	$51M
Other Non-Current Liabilities	$40M
TOTAL NON-CURRENT LIABILITIES	$191M
TOTAL LIABILITIES	$344M
Common Stock	$2M
Additional Paid-In Capital	$34M
Retained Earnings	$753M
Treasury Stock	$0
Accum. Other Comp. Income	$10M
Other Equity	$0
TOTAL STOCKHOLDERS' EQUITY	$798M
Minority Interest	$0
TOTAL EQUITY	$798M
TOTAL LIABILITIES & EQUITY	$1.1B
Total Debt	$120M
Net Debt	$71M