G&K Services, Inc. - GKSR

[satrimot]

Non conoscevo e non conosco questo titolo mi è stato segnalato
infatti ha violato resistenze intermedie imponenti
chi conosce o si vuol semplicemente confrontare

ultimo quarter

G&K Services Reports Fiscal 2012 First Quarter Results - Yahoo! Finance

MINNEAPOLIS--(BUSINESS WIRE)-- G&K Services, Inc. (NASDAQ:GKSR - News) today reported operating results for the first quarter of its fiscal year 2012, which ended on October 1, 2011. First quarter revenue of $209.7 million was up 6.8 percent from adjusted revenue of $196.4 million in the prior-year period. Revenue growth was driven by strong new account sales, better customer retention, improved pricing and increased direct sales volume. The prior-year adjusted revenue excluded $4.0 million related to an accounting change for certain in-service merchandise items. Including the impact of the accounting change, revenue in the prior-year quarter was $200.4 million.

The company reported first quarter net earnings of $0.45 per diluted share, an increase of 29 percent from adjusted earnings of $0.35 per diluted share in the prior-year period. Earnings growth in the quarter was driven by increased revenue, improved operating margins, lower interest expense and a lower tax rate. The prior-year adjusted earnings excluded a $0.14 per share benefit related to the accounting change. Including this benefit, prior-year earnings were $0.49 per diluted share.

“The first quarter was a solid start to our fiscal year,” said Douglas A. Milroy, G&K’s chief executive officer. “The company delivered profitable revenue growth, as our focus on productivity improvements and cost management led to higher operating margins, despite the expected headwinds from merchandise and energy costs.”

Income Statement Review
First quarter revenue from rental operations was $194.0 million, up from adjusted revenue of $182.4 million in the prior-year quarter. The company’s rental organic growth rate was 5.25 percent. Rental organic growth was primarily driven by strong new account sales, improved customer retention and pricing. The organic growth rate is calculated using revenue adjusted for foreign currency exchange rate differences and the accounting change. Prior-year adjusted rental revenue excluded $4.0 million related to the accounting change. Including the impact of the accounting change, prior-year revenue from rental operations was $186.4 million. First quarter direct sales were $15.7 million, up 12 percent from $14.0 million in the prior year, driven primarily by growth in catalog sales.

First quarter operating margin was 7.4 percent, compared to an adjusted operating margin of 7.2 percent in the prior-year period. The higher operating margin was driven by revenue growth leveraging fixed costs, productivity gains in rental production and delivery, and lower selling and administrative expenses as a percentage of adjusted revenue. These gains were partially offset by higher merchandise expense due to strong new account sales and increased cotton costs, and higher energy costs. Including the impact of the previously mentioned accounting change, prior-year operating margin was 9.0 percent.

Net earnings also benefited from lower interest expense and a lower effective tax rate. Interest expense in the current quarter was $1.7 million, down from $2.6 million in the prior-year period, primarily due to lower total debt. The effective tax rate was 40.0 percent, compared to 41.9 percent in the prior-year period.

Financial Strength
The company’s financial position remains strong. As of October 1, 2011, the company had total debt of $137.7 million and a debt to capitalization ratio of 21.2 percent. Total stockholders’ equity at the end of the first quarter was $513.0 million.

Cash flow from operations in the first quarter was negative $7.4 million, compared to $13.0 million in the prior-year. The lower cash flow was driven primarily by investments in inventory to support new account sales growth, the timing of payments on accounts payable, and a contribution to the company’s pension plan that was larger than the prior year.

Outlook
The company reaffirms its expectation for full-year fiscal 2012 revenue in the range of $850 to $870 million. Based on first quarter performance and increased confidence in its outlook, the company is increasing its full-year earnings guidance to a range of $1.80 to $2.05 per diluted share, from the previously announced range of $1.70 to $2.00 per diluted share. The company expects cash flow from operations will rebound during the remainder of the year and expects to generate full-year free cash flow in a range comparable to fiscal year 2011.

GKSR Ex-Dividend Reminder - 11/29/11 - Forbes

db

GKSR Key Statistics | G&K Services, Inc. Stock - Yahoo! Finance

insider

GKSR Insider Trading - G&K Services Inc - Form 4 SEC Filings

res oltre a grafo 39,28 e 42,75$