Cintas Corp., Nasdaq symbol CTAS, designs, makes and sells uniforms to about 800,000 business, mainly in North America. Cintas also offers related services, including office cleaning and document shredding.
In the three months ended February 28, 2011, the company’s sales rose 8.8%, to $937.8 million from $861.8 million a year earlier (all figures in U.S. dollars). Earnings rose 20.6%, to $59.1 million from $49.0 million. Earnings per share rose 28.1%, to $0.41 from $0.32, on more shares outstanding. The latest earnings easily beat the consensus estimate of $0.36 a share.
The company holds cash of $216.7 million, or $1.49 a share. The U.S. stock’s long-term debt of $806.4 million is only 19% of its $4.3-billion market cap.
High unemployment continues to hold back demand for company uniforms. However, Cintas is doing a good job of selling its other business services to its current clients.
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