Thursday, July 13, 2000

Tristate Earnings Reports


Cintas buzz words: up, gain, increase

The Cincinnati Enquirer

        Shares of Cintas Corp. jumped $2 Wednesday to close at $47.25, a day after the Mason uniform supplier reported a 20 percent gain in fourth-quarter earnings, excluding costs of the Unitog Co. acquisition.

        For the three months ended May 31, Cintas said net income, excluding the Unitog charges, was $52.8 million, or 31 cents a share, vs. $44.1 million, or 26 cents a share, a year ago.

        Fourth-quarter revenues including Kansas City-based Unitog, acquired in March 1999, grew 11 percent to $505 million from $455 million a year ago.

        For the year, Cintas said net income, excluding Unitog charges, increased 18 percent to $193.4 million, or $1.14 a share, from $164 million, or 97 cents a share, a year ago.

        Revenues totaled $1.9 billion, up 9 percent from $1.75 billion a year earlier.

        In another earnings report:

        E.W. Scripps Co.: Driven by category network and television station revenues, the Cincinnati-based media company posted second-quarter earnings for core operations of 59 cents a share — a 3 cent gain over the 1999 second quarter.

        Profit for the Cincinnati-based media company increased $2.7 million to $46.5 million for the second quarter of 2000 from $43.8 million the same period a year earlier.

        The Food Network and Home & Garden category television products now reach 49.1 million subscribers and 62.9 million subscribers, respectively.

        That is an increase of 8.4 million subscribers for the Food Network and 7.7 million subscribers for Home & Garden in the past year. The company saw a 19 percent increase in second-quarter broadcast television operating cash flow to $32.9 million — up from $27.7 million when compared with the same period last year.

       



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