Summary
Cintas Corporation (CTAS) filed an 8-K report on September 18, 2003, detailing its financial results for the quarter ended August 31, 2003. The company reported a one-time charge of $4.3 million related to a receivable write-off. This charge impacted the reported pre-tax profits. The company provided a reconciliation of its pre-tax profits, showing the figures both before and after the one-time charge. Cintas believes this transparency is crucial for investors to accurately compare current period performance against prior periods that were not affected by such non-recurring items, allowing for a clearer understanding of the ongoing operational performance.
Key Highlights
- 1Cintas Corporation filed an 8-K report on September 18, 2003.
- 2The report covers the financial results for the quarter ended August 31, 2003.
- 3A one-time charge of $4.3 million was incurred due to a receivable write-off.
- 4This charge impacted the pre-tax profit figures for the reported quarter.
- 5The company provided a reconciliation to show pre-tax profits before and after the charge.
- 6Cintas highlighted the importance of this information for period-over-period comparison.
Frequently Asked Questions
The main event reported is Cintas Corporation's financial results for the quarter ended August 31, 2003, which includes a significant one-time charge of $4.3 million related to a receivable write-off.
The $4.3 million receivable write-off reduced the company's pre-tax profits for the quarter. Cintas provided a reconciliation to show the profit figures both with and without this charge.
Cintas believes this detailed disclosure is important for investors. It allows for a more accurate comparison of the company's operational performance to prior periods that did not have similar non-recurring charges, providing better insight into the ongoing business trends.