Last $71.99 USD
Change Today -0.78 / -1.07%
Volume 113.2K
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As of 8:10 PM 02/27/15 All times are local (Market data is delayed by at least 15 minutes).

g & k services inc -cl a (GK) Key Developments

G&K Services Inc. Presents at Baird Business Solutions Conference, Feb-24-2015 02:25 PM

G&K Services Inc. Presents at Baird Business Solutions Conference, Feb-24-2015 02:25 PM. Venue: The Pierre Hotel, 2 East 61st Street, New York, New York, United States. Speakers: Douglas A. Milroy, Chairman and Chief Executive Officer, Tracy C. Jokinen, Chief Financial Officer.

G&K Services Declares Regular Quarterly Cash Dividend, Payable on March 20, 2015

G&K Services Inc. announced that its board of directors has declared a quarterly dividend of $0.31 per share. The dividend will be payable on March 20, 2015 to shareholders of record at the close of business on March 5, 2015.

G&K Services Inc. Announces Unaudited Consolidated Earnings Results for Second Quarter and Six Months Ended December 27, 2014; Revises Earnings Guidance for the Fiscal 2015

G&K Services Inc. announced unaudited consolidated earnings results for second quarter and six months ended December 27, 2014. For the quarter, the company reported rental and direct sales revenue of $237,309,000, income from continuing operations of $28,624,000, income from continuing operations before income taxes of $26,701,000, net income from continuing operations of $16,953,000 or $0.83 per diluted share, net income of $16,953,000 or $0.83 per diluted share compared to the rental and direct sales revenue of $225,919,000, income from continuing operations of $27,696,000, income from continuing operations before income taxes of $26,130,000, net income from continuing operations of $16,343,000 or $0.81 per diluted share, net income of $7,920,000 or $0.39 per diluted share for the same quarter a year ago. Operating income from continuing operations grew driven both by revenue growth and continued margin expansion. For the six months period, the company reported rental and direct sales revenue of $467,551,000, income from continuing operations of $55,474,000, income from continuing operations before income taxes of $51,756,000, net income from continuing operations of $33,321,000 or $1.64 per diluted share, net income of $33,321,000 or $1.64 per diluted share, net cash provided by operating activities of $48,015,000, compared to the rental and direct sales revenue of $446,142,000, income from continuing operations of $51,265,000, income from continuing operations before income taxes of $48,118,000, net income from continuing operations of $29,953,000 or $1.49 per diluted share, net income of $21,741,000 or $1.07 per diluted share, net cash provided by operating activities of $15,622,000 for the same period a year ago. The increased operating cash flow was primarily due to improved working capital management, higher net income, and lower income tax payments. Capital expenditures was $25.6 million, compared to $15.0 million in the prior year, as the company increased investments in capacity expansion and information technology. The company continues to expect full year fiscal 2015 revenue in a range of $930 to $950 million, as organic growth continues to be partially offset by the impact of a lower exchange rate for the Canadian dollar. Based on year-to-date performance, the company is increasing the lower-end of its full-year earnings guidance to a range of $3.20 to $3.30 per diluted share, up from the previously announced range of $3.15 to $3.30. The company tracking CapEx to about $50 million in 2015. The company will slightly reduce interest expense in the coming quarters.

G&K Services Mulls Acquisitions

G&K Services Inc. (NasdaqGS:GK) is seeking acquisition opportunities. Doug Milroy, Chairman and Chief Executive Officer of G&K Services, said, "we will continue to actively seek acquisitions that support what we are doing."

G&K Services Inc. to Report Q2, 2015 Results on Jan 27, 2015

G&K Services Inc. announced that they will report Q2, 2015 results on Jan 27, 2015

 

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