CINCINNATI — Uniform supplier and service provider Cintas Corporation recently posted a 31 percent decrease in fiscal first-quarter profits, according to the Cincinnati Enquirer.
Net income for the period fell from $78.6 million in the year-ago quarter to the current $53.9 million, the story stated.
Total revenues from uniform and mat rentals declined 11 percent in one year from $1 billion to $892 million, the story noted.
According to the story, net income for the fourth quarter was $4.07 million after a $54 million restructuring charge.
Cintas Chief Executive Officer (CEO) Scott Farmer said: "Market conditions remain difficult and will continue to impact our business."
Because some 6 million jobs have been lost over the last year, Cintas says year-to-year comparisons aren''t as meaningful as those with the previous quarter, the story added.
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