MINNETONKA, MN — JanSan uniform and facility services provider G&K Services Inc. recently released their 2010 fiscal third quarter figures, which includes revenue of $198.9 million, according to a press release.
The $32.1 million drop in revenue compared to the year-ago quarter was due largely to the weakened economic state, the release stated.
Douglas A. Milroy, chief executive officer (CEO) for G&K Services, said: "Our business continues to strengthen. We are driving our new game plan, consisting of redoubling our focus on customer satisfaction, improving execution, increasing cost management and addressing underperforming locations. Our efforts continue to show positive progress and are solidifying key elements of our business."
Third quarter revenue from rental operations was $185.6 million, down from $209.9 million in the same three-month period of last year, the release noted.
As of March 27, 2010, G&K Services had total borrowings of $174.7 million and a debt to capitalization ratio of 27.2 percent, the release added.
Click here to read the complete release.