UniFirst Corporation, a North American leader in the supply and servicing of uniform and workwear programmes, posted 6.2 per cent revenue growth to $464.6 million in second quarter (Q2) FY20 ended on February 29, 2020 compared to revenue of $437.4 million in same period prior year. Year-over-Year (YoY) revenue for 26 weeks was $929.9 million.
UniFirst Corporation, a North American leader in the supply and servicing of uniform and workwear programmes, posted 6.2 per cent revenue growth to $464.6 million in second quarter (Q2) FY20 ended on February 29, 2020 compared to revenue of $437.4 million in same period prior year. Year-over-Year (YoY) revenue for 26 weeks was $929.9 million.#
“We are pleased with the results of our second quarter which largely met our expectations and showed solid top and bottom-line growth,” Steven Sintros, UniFirst president and chief executive officer, said in a press release.
UniFirst Corporation, a North American leader in the supply and servicing of uniform and workwear programmes, posted 6.2 per cent revenue growth to $464.6 million in second quarter (Q2) FY20 ended on February 29, 2020 compared to revenue of $437.4 million in same period prior year. Year-over-Year (YoY) revenue for 26 weeks was $929.9 million.#
Operating income over quarter decreased 29.3 per cent to $44.1 million (Q2 FY19: $62.4 million). Net income in Q2 FY20 were $34.6 million. Selling and administrative expenses in the quarter rose to $93.0 million (Q2 FY19: $68.3 million).
UniFirst Corporation, a North American leader in the supply and servicing of uniform and workwear programmes, posted 6.2 per cent revenue growth to $464.6 million in second quarter (Q2) FY20 ended on February 29, 2020 compared to revenue of $437.4 million in same period prior year. Year-over-Year (YoY) revenue for 26 weeks was $929.9 million.#
Core laundry operations revenue increased 4.5 per cent to $412.2 million. Specialty garments revenue jumped 21 per cent to $36.0 million due to higher direct sale activity in the quarter as well as strong performance in the cleanroom and European nuclear operations, as reported.
UniFirst Corporation, a North American leader in the supply and servicing of uniform and workwear programmes, posted 6.2 per cent revenue growth to $464.6 million in second quarter (Q2) FY20 ended on February 29, 2020 compared to revenue of $437.4 million in same period prior year. Year-over-Year (YoY) revenue for 26 weeks was $929.9 million.#
“Due to the evolving pandemic, our ability to assess the financial impact on our business remains limited. As a result, we are not providing guidance for the remainder of our fiscal 2020. Although we are not able to quantify, we expect the disruption related to this pandemic will clearly have a negative impact on our revenues and profitability,” Sintros said while talking about the future financial outlook.
Fibre2Fashion News Desk (JL)
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