G&K Services (NASDAQ:GK) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
G&K Services Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 11.86% to $0.66 in the quarter versus EPS of $0.59 in the year-earlier quarter.
Revenue: Rose 2.3% to $229.5 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: G&K Services reported adjusted EPS income of $0.66 per share. By that measure, the company beat the mean analyst estimate of $0.65. It missed the average revenue estimate of $231.24 million.
Quoting Management: “Our team delivered truly outstanding results in fiscal 2013,” said Douglas A. Milroy, Chief Executive Officer. “G&K is clearly a much stronger, more capable company than when we initiated our game plan four years ago. The improvements we’ve made in our business give us the confidence to again set new, challenging financial goals, targeting continued gains in margins and returns, and an increased focus on profitable top-line growth.”
Key Stats (on next page)…