G&K Services Q4 Profit Decreases - Quick Facts

(RTTNews) - G&K Services Inc. (GK) reported that its fourth-quarter net income to shareholders decreased to $7.90 million or $0.40 per share, from $11.19 million or $0.59 per share, last year. Adjusted earnings per share was $0.66 for the quarter.

On average, seven analysts polled by Thomson Reuters expected the company to report profit per share of $0.65 for the quarter. Analysts' estimates typically exclude special items.

Revenue grew by 2.3 percent to $229.5 million, from $224.3 million last year, driven by growth in rental operations, partially offset by lower revenue from direct sales. Analysts expected revenue of $231.24 million for the quarter.

The company also introduced financial guidance for its fiscal year 2014, forecasting revenue to be in the range of $930 million to $950 million, with earnings per share between $2.80 and $3.00. Analysts expect the company to report fiscal 2014 profit per share of $2.89 on revenue of $952.80 million.