reports
G&K Services Declares Regular Cash Dividend
MINNEAPOLIS--(BUSINESS WIRE)-- G&K Services, Inc. (NASDAQ: GK) announced today that its Board of Directors has declared a quarterly dividend of $0.39 per share. The dividend will be payable on March 10, 2017 to shareholders of record at the close of business on February 27, 2017. About G&K Services, Inc.G&K Services, Inc. is a service-focused market leader of branded uniform and facility services programs in the United States and Canada. Headquartered in Minneapolis, Minnesota, G&K Services has 8,000 employees serving ...
- Matthew Young
G&K's Fiscal 2Q Results Mostly In Line, Though Merger Distractions Pre...
G&K Services’ fiscal 2017 second-quarter (ended December) organic revenue was mostly flat with the year-ago period and slightly below our expected run rate. Margins also came in shy of our forecast in part because of merger-related expenses (including professional and regulatory fees) associated with the Cintas transaction, which is expected to close by the second quarter of calendar 2017, pending regulatory approval. We do not expect to materially alter our $97.50 fair value estimate, which.....
G&K Services Reports Fiscal 2017 Second Quarter Results
MINNEAPOLIS--(BUSINESS WIRE)-- G&K Services, Inc. (NASDAQ: GK) today reported operating results for the second quarter of its fiscal year 2017, which ended on December 31, 2016. Second quarter revenue grew 0.4 percent to $244.1 million, compared to $243.1 million in last year’s second quarter. Earnings per diluted share were $0.46, compared to $0.92 in the prior year period. Second quarter earnings included $0.44 per share of merger-related costs. Excluding these costs, adjusted non-GAAP earnings were $0.90 per diluted share (see reco...
G&K Services to Report Fiscal 2017 Second Quarter Financial Results
MINNEAPOLIS--(BUSINESS WIRE)-- G&K Services, Inc. (NASDAQ: GK) will report its fiscal 2017 second quarter results on Tuesday, January 31, 2017, before the market opens. Due to the planned acquisition by Cintas Corporation, the company will not host a conference call for its second quarter results. About G&K Services, Inc.G&K Services, Inc. is a service-focused market leader of branded uniform and facility services programs in the United States and Canada. Headquartered in Minneapolis, Minnesota, G&K Services has 8,000 employe...
G&K Services Declares Regular Cash Dividend
MINNEAPOLIS--(BUSINESS WIRE)-- G&K Services, Inc. (NASDAQ: GK) announced today that its Board of Directors has declared a quarterly dividend of $0.39 per share. The dividend will be payable on December 16, 2016 to shareholders of record at the close of business on November 30, 2016. About G&K Services, Inc.G&K Services, Inc. is a service-focused market leader of branded uniform and facility services programs in the United States and Canada. Headquartered in Minneapolis, Minnesota, G&K Services has 8,000 employees servi...
G&K Services Shareholders Approve Merger with Cintas
MINNEAPOLIS--(BUSINESS WIRE)-- G&K Services, Inc. (NASDAQ: GK) today announced that, based on preliminary voting results from its annual meeting of shareholders held earlier today, the company’s shareholders have approved the proposed merger with Cintas Corporation (NASDAQ: CTAS). Based on preliminary vote results, approximately 99 percent of the G&K Services’ shares that were voted at the annual meeting were cast in favor of the merger, representing approximately 87 percent of G&K’s outstanding stock as of the record ...
- Matthew Young
Industrials After Trump's Election: Greater Uncertainty but Defense Li...
It’s challenging to predict what will happen following the election of Donald Trump as president, because he may lack the full support of the Republican Congress and may refine his policies as his team gathers information from business and labor leaders, but we can say with confidence that the near-term cone of uncertainty surrounding the performance of many industrial stocks just increased. Trump’s anti-free-trade rhetoric and policy uncertainty has led to an initially weaker U.S. dollar, w...
- Matthew Young
No Major Surprises in G&K’s Fiscal 2017 First Quarter
G&K’s fiscal first-quarter 2017 (ended September) organic revenue increased 1.6% from the same period last year, slightly below our expected run rate. Operating margins also came in shy of our forecast as a result of merger-related expenses (including professional and regulatory fees) associated with the previously announced Cintas transaction, which is expected to close by the second quarter of calendar 2017 pending regulatory approval. We do not expect to materially alter our $97.50 fair v.....
G&K Services Reports Fiscal 2017 First Quarter Results
MINNEAPOLIS--(BUSINESS WIRE)-- G&K Services, Inc. (NASDAQ: GK) today reported operating results for the first quarter of its fiscal year 2017, which ended on October 1, 2016. First quarter revenue grew 1.6 percent to $241.0 million, compared to $237.2 million in last year’s first quarter. Earnings per diluted share were $0.50, compared to $0.80 in the prior year period. First quarter earnings included $0.24 per share of merger-related costs, a previously disclosed $0.19 per share pension settlement charge, and a $0.04 per share benefi...
G&K Services and the Windsor Spitfires Team Up to “Stick it to Cance...
WINDSOR, Ontario--(BUSINESS WIRE)-- G&K Services, Inc. (NASDAQ: GK), a leading provider of branded uniform and facility services programs, joined with the Windsor Spitfires team from the Ontario Hockey League (OHL) last night to sponsor the team’s annual “Stick it to Cancer” charity event. The event drew fans from the Windsor community who cheered on the Spitfires, outfitted in custom pink jerseys and skate laces, as they took on the Sault Ste. Marie Greyhounds. This Smart News Release features multimedia. View the full release ...
G&K Services to Report Fiscal 2017 First Quarter Financial Results
MINNEAPOLIS--(BUSINESS WIRE)-- G&K Services, Inc. (NASDAQ: GK) will report its fiscal 2017 first quarter results on Tuesday, November 1, 2016, before the market opens. Due to the planned acquisition by Cintas Corporation, the company does not plan to host a conference call for its first quarter results. About G&K Services, Inc.G&K Services, Inc. is a service-focused market leader of branded uniform and facility services programs in the United States and Canada. Headquartered in Minneapolis, Minnesota, G&K Services has 8,000 e...
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