Cintas Corporation, a US-based uniform supplier company, reported 3.6 per cent decrease in its revenue to $1.74 billion during the first quarter (Q1) for fiscal 2021 that ended on August 31, 2020 compared to the revenues of $1.81 billion in the same quarter prior year. However, company’s net income grew to $300.0 million (Q1 FY20: $250.8 million).
Cintas Corporation, a US-based uniform supplier company, reported 3.6 per cent decrease in its revenue to $1.74 billion during the first quarter (Q1) for fiscal 2021 that ended on August 31, 2020 compared to the revenues of $1.81 billion in the same quarter prior year. However, company's net income grew to $300.0 million (Q1 FY20: $250.8 million).#
“The Covid-19 coronavirus pandemic remains a significant disruption to the economy and our business. Our objectives include keeping our employees, whom we call partners, healthy and safe and serving our customers in any way possible,” Scott Farmer, Cintas' chairman and chief executive officer, said in a press release.
Cintas Corporation, a US-based uniform supplier company, reported 3.6 per cent decrease in its revenue to $1.74 billion during the first quarter (Q1) for fiscal 2021 that ended on August 31, 2020 compared to the revenues of $1.81 billion in the same quarter prior year. However, company's net income grew to $300.0 million (Q1 FY20: $250.8 million).#
Revenue of uniform rental and facility services fell 4.1 per cent to $1.39 billion ($1.45 billion). While other revenue were down 1.2 per cent to $352.1 million ($356.6 million).
Cintas Corporation, a US-based uniform supplier company, reported 3.6 per cent decrease in its revenue to $1.74 billion during the first quarter (Q1) for fiscal 2021 that ended on August 31, 2020 compared to the revenues of $1.81 billion in the same quarter prior year. However, company's net income grew to $300.0 million (Q1 FY20: $250.8 million).#
Gross margin for the quarter was $826.2 million ($849.1 million). Selling, general and administrative expenses for Q1 FY21 were $476.4 million ($542.9 million). Company’s operating income for the period jumped 14.2 per cent to $349.7 million ($306.1 million).
Cintas Corporation, a US-based uniform supplier company, reported 3.6 per cent decrease in its revenue to $1.74 billion during the first quarter (Q1) for fiscal 2021 that ended on August 31, 2020 compared to the revenues of $1.81 billion in the same quarter prior year. However, company's net income grew to $300.0 million (Q1 FY20: $250.8 million).#
“We expect our second quarter revenue to be in the range of $1.725 billion to $1.750 billion. Despite the short-term uncertainty, I'm confident in our ability to continue to manage the volatility while maintaining focus on our compelling long-term objectives,” Farmer said.
Fibre2Fashion News Desk (JL)
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