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Cintas Tells of Optimism

The company's shares gain 10% a day after its solid forecast.
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(CTAS) - Get Cintas Corporation Report

saw its shares jump 10% a day after the company posted double-digit fourth-quarter earnings growth and offered upbeat guidance for the next fiscal year.

The supplier of uniforms, entrance mats and restroom supplies to business earned $83 million, or 48 cents a share, in the fiscal fourth quarter, up from $72.7 million, or 42 cents a share, a year ago.

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Revenue rose 9.6% to $809.2 million for the quarter ended May 31 from $738.2 million in the prior-year period. Shares of Cintas were gaining $4.13 to $43.93 in active trading.

Analysts polled by Thomson First Call were expecting a profit of 46 cents in the quarter.

Cincinnati-based Cintas forecast revenue for fiscal 2006 of $3.35 billion to $3.45 billion and earnings of $1.95 to $2.05 a share. The company said its outlook assumes a continued improvement in the economy and the effect of fewer shares outstanding because of stock repurchases.

Wall Street's fiscal 2006 consensus estimates before the company gave its projections were for earnings of $1.98 a share and revenue of $3.37 billion.