NEW YORK (TheStreet) -- Shares of UniFirst Corp. (UNF) are higher by 1.08% to $108 at the start of trading on Wednesday, following the company's strong 2014 third quarter earnings results which showed a 7.7% increase in net income to $30.9 million, or $1.53 per diluted share, compared to $28.7 million, or $1.43 per diluted share for the year ago period.
The company, which provides workplace uniforms, and protective work wear clothing in the U.S., posted a 4.9% increase in revenue for the most recent quarter to $352.2 million versus $335.8 million from the 2013 third quarter.
UniFirst forecasted its full year 2014 revenue to be between $1.382 billion and $1.387 billion, and full year EPS to be between $5.70 and $5.85 per share.
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Separately, TheStreet Ratings team rates UNIFIRST CORP as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:
"We rate UNIFIRST CORP (UNF) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, reasonable valuation levels, good cash flow from operations and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income."