Thursday, November 15, 2001
Cintas reduces quarter estimate; share price slips
Shares of Cintas Corp. slipped Wednesday after the Mason uniform supplier warned that its fiscal second-quarter earnings will be less than expected.
The company said it expects to earn 33 to 34 cents a share for the three months ended Nov. 30. That's at the low end of estimates ranging from 33 to 36 cents a share by analysts surveyed by Thomson Financial/First Call. Cintas shares closed at $45.11, down 60 cents in Wednesday's trading.
CEO Robert J. Kohlhepp said that while uniform rental and other product revenues are expected to rise 10 percent, the company has seen an unusual decline in uniform sales focused on the hospitality, restaurant and airline industries since the Sept. 11 terrorist attacks.
Chiquita faces Illinois complaint
Chiquita Brands International Inc. said a complaint was filed against the company by the Illinois Attorney General's Office, charging the biggest banana producer with environmental violations at one of its canning plants.
Monetary sanctions should be less than $150,000, Chiquita said in a quarterly filing with the U.S. Securities and Exchange Commission. The complaint was filed before the Illinois Pollution Control Board this month.
Chiquita is charged with having certain accidental and emergency wastewater discharges and other discharges that were higher than permitted levels, the company said in the filing. The alleged violations were at Chiquita's Princeville, Ill., canning facility.
We have been and will continue to fully cooperate with the regulatory authorities to resolve it, Chiquita spokesman Jeffrey Zalla said.
From staff and wire reports
Delta upbeat about Comair
Delta's Mullin: Show off security
Airline industry courting travel agents
Gibson Guitar completes purchase of Baldwin
Retail sales smash expectations
Sales decline at Federated
Oil prices surprise Ashland Inc. chairman
OPEC output cut hinges on others
Jeans-maker to cut 13,000 jobs
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