8-KEarnings & ResultsExhibits & Filings

CINTAS CORP 8-K Report, Financial Results (Sep 22, 2010)

Filed September 22, 2010For Securities:CTAS

Summary

Cintas Corporation (CTAS) filed an 8-K on September 22, 2010, primarily to correct a calculation error in their previously issued press release regarding financial results for the quarter ended August 31, 2010. The error specifically involved the computation of Free Cash Flow, where capital expenditures were inadvertently added instead of subtracted for both the three months ended August 31, 2010, and August 31, 2009. The corrected press release, which accurately reflects the Free Cash Flow figures, is furnished as an exhibit to this 8-K filing. Investors should note that while the headline financial results (likely EPS and Revenue) were not explicitly stated as being affected by this specific error, the correction to Free Cash Flow is a critical adjustment for understanding the company's cash generation capabilities. The accurate Free Cash Flow figure is crucial for investors evaluating Cintas's ability to fund operations, reinvest in the business, pay down debt, or return capital to shareholders.

Key Highlights

  • 1Cintas Corp (CTAS) filed an 8-K on September 22, 2010, to amend previously released financial information.
  • 2The filing corrects an error in the calculation of Free Cash Flow for the quarter ended August 31, 2010.
  • 3Capital expenditures were mistakenly added instead of subtracted in the original Free Cash Flow calculation.
  • 4The error also affected the Free Cash Flow calculation for the comparable prior year period (three months ended August 31, 2009).
  • 5A corrected press release, incorporating the accurate Free Cash Flow figures, is provided as Exhibit 99.
  • 6Investors are advised to refer to the furnished press release for the corrected financial data.
  • 7The primary purpose of the 8-K is to ensure accurate reporting of the company's financial condition, specifically its cash flow generation.

Frequently Asked Questions

The main reason for filing this 8-K report was to correct an error in the Free Cash Flow calculation that was included in a press release announcing the company's financial results for the quarter ended August 31, 2010. Capital expenditures were incorrectly added instead of subtracted.

The filing specifically mentions an error in the 'Computation of Free Cash Flow'. It does not explicitly state that the reported EPS or revenue figures were affected by this particular correction. Investors should consult the corrected press release (Exhibit 99) for full details on all financial metrics.

Free Cash Flow (FCF) represents the cash a company generates after accounting for cash outflows to support operations and maintain its capital assets. It is important for investors because it indicates the company's ability to pay dividends, repurchase stock, pay down debt, or fund future growth initiatives without needing to raise external capital.

The corrected financial information, specifically the press release with the accurate Free Cash Flow calculation, is furnished as Exhibit 99 to this 8-K filing and is incorporated herein by reference.