CINCINNATI, OH — Corporate uniform supplier and service provider Cintas Corporation said Tuesday that its fiscal fourth-quarter earnings rose sharply, largely due to the effects of year-ago charges for restructuring and write-downs, according to the Associated Press.
For three months that ended May 31, the company had net income of $55.5 million, the article noted.
That was up from $4 million in net income in the 2009 fiscal fourth quarter, a period that included $51 million of charges from restructuring and write-downs of long-lived assets, the article stated.
Cintas Chief Executive Scott Farmer cast a cautious tone on the future, saying it will "take time" for the private sector job market to return to pre-recession levels.
In the 2011 fiscal year, Cintas expects earnings of between $1.50 and $1.58 a share on revenue of $3.55 billion to $3.75 billion, the article added.
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