Summary
Cintas Corporation's 2011 10-K filing highlights a year of recovery and growth following a challenging economic period. The company demonstrated resilience, with total revenue increasing by 7.4% to $3.8 billion. This growth was driven by a combination of organic expansion, particularly in the Document Management Services segment (up 27.0%), and strategic acquisitions across multiple segments. The Rental Uniforms and Ancillary Products segment, the largest contributor to revenue, saw a solid 4.8% increase, signaling a rebound in core business activity. Profitability also improved, with operating income rising by 12.7% and net income up 14.5% to $247.0 million. Diluted Earnings Per Share (EPS) saw a significant 20.0% increase, partly due to effective share repurchases. The company maintained a strong financial position, with robust operating cash flows and a stable credit rating, allowing for continued investment in growth initiatives and shareholder returns, including a 28th consecutive year of dividend increases.
Financial Highlights
54 data points| Revenue | $3.81B |
| Gross Profit | $1.61B |
| SG&A Expenses | $1.17B |
| Operating Income | $440.34M |
| Interest Expense | $49.70M |
| Net Income | $246.99M |
| EPS (Basic) | $0.42 |
| EPS (Diluted) | $0.42 |
| Shares Outstanding (Basic) | 586.34M |
| Shares Outstanding (Diluted) | 586.34M |
Key Highlights
- 1Total revenue increased by 7.4% to $3.81 billion, indicating a strong recovery from the previous year.
- 2Operating income grew by 12.7% to $440.3 million, reflecting improved operational efficiency and revenue growth.
- 3Net income increased by 14.5% to $247.0 million, with diluted EPS rising by 20.0% to $1.68.
- 4The Document Management Services segment showed exceptional growth, with revenue up 27.0% due to organic expansion and acquisitions.
- 5The company continued its share repurchase program, buying back approximately 7.7 million shares in the fourth quarter of FY2011, contributing to EPS growth.
- 6Cintas maintained a strong balance sheet and liquidity position, with $438.1 million in cash and cash equivalents and a stable credit rating.
- 7The company celebrated its 28th consecutive year of increasing its annual dividend, demonstrating a commitment to shareholder returns.