G&K Services Q4 Profit Rises - Quick Facts

(RTTNews) - G&K Services, Inc. (GK) Thursday reported a rise in its fourth-quarter earnings, as revenues grew 4.7 percent year-over-year.

Net income from continuing operations amounted to $15.72 million or $0.78 per share, compared with $12.52 million or $0.63 per share in the prior-year period. On an adjusted basis, quarterly earnings from continuing operations totaled $0.76 per share, excluding a $0.02 per share benefit from the previously announced change in estimated merchandise amortization lives.

On average, seven analysts polled by Thomson Reuters expected the company to earn $0.73 per share for the quarter. Analysts' estimates typically exclude special items.

Excluding revenue from discontinued operations, quarterly revenues rose to $229.7 million from $219.4 million in last year's fourth quarter. Analysts estimated revenues of $227.28 million. A lower exchange rate for the Canadian dollar decreased revenue growth by 1.1 percent. The rental organic growth rate, which adjusts for the impact of currency exchange rate differences, acquisitions and divestitures, was 6.0 percent.

Looking ahead, for the fiscal 2015, the company expects earnings per share between $3.10 and $3.25, on revenues of $930 million - $950 million. Street analysts expect the company to report earnings of $3.18 per share, on revenues of $936.89 million.