NEW YORK (TheStreet) -- Shares of G&K Services Inc. (GK) are higher by 3.34% to $51.29 in late afternoon trading on Thursday, after the company reported a rise in net income to $15.7 million, or 78 per share for the 2014 fourth quarter, compared to $8 million, or 40 cents per share for the year ago period.
The branded uniform and facility service programs provider said its adjusted earnings grew 12% to 76 cents per diluted share versus 68 cents per diluted share for the 2013 fourth quarter.
G&K Services said revenue increased to $229.7 million, from $219.4 million for the same quarter last year.
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The company’s financial results topped estimates from analysts polled by Thomson Reuters of 73 cents per share, on revenue of $227.2 million.
Separately, TheStreet Ratings team rates G&K SERVICES INC as a Buy with a ratings score of B+. TheStreet Ratings Team has this to say about their recommendation:
"We rate G&K SERVICES INC (GK) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. 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 and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income."
You can view the full analysis from the report here: GK Ratings Report