UniFirst Q1 Profit Rises; Sees FY Results At High End Of Range - Quick Facts

(RTTNews) - Apparel company UniFirst Corp. (UNF) reported that its fiscal 2014 first quarter income allocated to common Stock rose to $34.03 million from $30.24 million in the prior year quarter. Net income for the quarter improved to $1.71 per share from last year's $1.54 per share. Analysts polled by Thomson Reuters expected the company to report earnings of $1.62 per share for the quarter. Analysts' estimates typically exclude special items.

Quarterly net income increased to $34.5 million from $30.8 million in the year ago period.

First quarter revenues were $346.7 million, up 4.3% from $332.6 million in the year ago period. Five analysts estimated revenues of $347.07 million for the quarter.

The company said in October that it expected fiscal 2014 revenues to be between $1.372 billion and $1.385 billion and full year earnings per share to be between $5.60 and $5.85. As a reminder, fiscal 2014 will be a 52 week year for the company compared to fiscal 2013 which was a 53 week year. Based on the first quarter performance, the company said it now anticipate its full year results will be at the higher end of these ranges. Street currently is looking for fiscal year 2014 earnings of $5.83 per share on annual revenues of $1.38 billion.