Bowdeya Tweh reports:
Net income dipped nearly 2 percent for Cintas Corp. in its fiscal third quarter despite posting record quarterly revenue.
Mason-based Cintas said Tuesday it had a profit of $74.7 million, or 60 cents per share, in its third quarter ended Feb. 28. Operating income was $133 million, down 3.3 percent from a year ago, as its costs and expenses rose.
Revenue was up 6.3 percent to $1.08 billion in the third quarter ended Feb. 28, compared to the third quarter ended Feb. 29, 2012.
Assuming no deterioration in the U.S. economy and no additional share buybacks, Cintas upgraded its fiscal year revenue forecast from $4.3 billion to $4.33 billion and earnings per share to be between $2.50 and $2.54.
Net income from the firm’s uniform direct sales segment was up 11 percent from the previous fiscal third quarter.
Cintas makes products including corporate uniforms and promotional items. It also provides services including first aid, safety and fire protection, commercial cleaning and document management.
