UniFirst Corp (UNF) Announces $100M Share Buyback Authorization

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Go back to UniFirst Corp (UNF) Announces $100M Share Buyback Authorization

UniFirst Announces Financial Results for the First Quarter of Fiscal 2019 and Board of Directors Authorizes $100.0 Million Share Repurchase Program

January 3, 2019 8:00 AM EST

WILMINGTON, Mass., Jan. 03, 2019 (GLOBE NEWSWIRE) -- UniFirst Corporation (NYSE: UNF) today announced results for its first quarter which ended November 24, 2018. Revenues for the quarter were $438.6 million, up 5.5% from $415.8 million in the comparable prior year period. Operating income in the first quarter of fiscal 2019 was $50.4 million compared to $51.9 million in the prior year. Net income in the quarter increased to $38.3 million ($1.99 per diluted share) from $34.2 million ($1.67 per diluted share) in the first quarter of fiscal 2018.

The Company's operating income and net income in the quarter benefited from a $3.0 million pre-tax gain ($0.11... More