Aramark Holdings Turns To Profit In Q2; Lifts FY14 Outlook - Quick Facts

(RTTNews) - Aramark Holdings Corp. (ARMK), a provider of services in food, facilities management, and uniforms, reported Thursday that its second-quarter net income attributable to the company was $13.12 million or $0.05 per share, compared to last year's loss of $39.90 million or $0.20 per share.

Adjusted net income for the quarter was $75.2 million or $0.31 per share, compared to $53.6 million or $0.26 per share a year ago.

On average, seven analysts polled by Thomson Reuters expected the company to report earnings of $0.28 per share for the quarter. Analysts' estimates typically exclude special items.

Sales for the quarter increased to $3.50 billion from $3.40 billion a year ago. Analysts estimated revenues of $3.53 billion for the quarter. Organic sales growth was 4 percent.

Unusually severe winter weather during the quarter affected results at a number of client locations, the company noted.

Further, the company noted that on May 6, its Board of Directors declared a 7.5 cent dividend per share, payable on June 9 to shareholders of record at the close of business May 19.

Looking ahead, Aramark said its outlook for the remainder of fiscal 2014 remains unchanged.

For the year, the company now expects 53-week adjusted earnings per share between $1.35 and $1.45, higher than previous estimate between $1.30 and $1.40, based upon first half performance.