Key Developments For G&K Services, Inc.
G&K Services, Inc. (GKSR.O) (Nasdaq)
G&K Services, Inc. Declares Regular Cash Dividend
G&K Services, Inc. announced that it has declared a quarterly dividend of $0.075 per share payable in cash on December 24, 2009 to shareholders of record at the close of business on December 10, 2009.
G&K Services, Inc. Issues Q2 2010 EPS Guidance; Revenue Guidance Above Analysts' Estimates
G&K Services, Inc. announced that for the second quarter of 2020, it expects revenue to be consistent with first quarter revenue. Second quarter of 2010, operating income margin and earnings per diluted share (EPS) are expected to improve slightly from first quarter results primarily due to recent staffing reductions at the company's corporate and regional offices and location specific profitability actions. The Company reported EPS of $0.22 on revenue of $245.2 million in first quarter of 2010. According to Reuters Estimates, analysts were expecting the Company to report EPS of $0.26 on revenue of $218.3 million for the second quarter of 2010.
G&K Services, Inc. Announces Increase In Quarterly Dividend
G&K Services, Inc. announced that its Board of Directors have declared a quarterly dividend of $0.075 per share, an increase of approximately 7% from its previous quarterly dividend of $0.07 per share. The next quarterly dividend will be payable on September 24, 2009, to shareholders of record at the close of business on September 17, 2009.
G&K Services, Inc. Issues Q1 2010 EPS Outlook Below Analysts' Estimates; Comments On Organic Revenue Outlook
G&K Services, Inc. announced that for the first quarter of fiscal 2010, it expects the continued economic stress on the customers to pressure organic revenue growth, operating margins and earnings per diluted share (EPS) below fourth quarter results reported. The Company reported revenue of $218 million and EPS of $0.27 in fourth quarter of 2009. According to Reuters Estimates, analysts were expecting the Company to report revenues of $219 million and EPS of $0.33 for the same period.
G&K Services, Inc. Completes New $300 Million Credit Facility
G&K Services, Inc. announced that it has completed a $300 million, three year revolving credit facility. The new facility, which will mature in July 2012, replaces the Company's previous credit facility which was scheduled to mature in August 2010. At closing, the Company expects to draw down approximately 15% of this credit facility, which is consistent with the borrowing level under the previous credit facility and provides over $150 million of available liquidity.
