G&K Services, Inc. (NASDAQ:GK) Files An 8-K Results of Operations and Financial Condition
Item 2.02
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Results of Operations and Financial Condition
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announcing its financial results for the second quarter of its
fiscal year 2017, ended December 31, 2016. A copy of the press
release is furnished as Exhibit 99.1 to this report. The press
release contains non-GAAP financial measures, which are the
organic growth rate, and certain non-GAAP operating results which
are reconciled to GAAP operating results. The organic growth rate
is calculated using revenue, adjusted for foreign currency
exchange rate differences, acquisitions, and divestitures.
Management believes that organic growth is useful in analyzing
the companys overall financial condition and the results of its
operations. Management believes that certain non-GAAP operating
results, which exclude pension settlement costs, merger related
costs, and equity compensation adjustments, provide a more
meaningful measure on which to compare the companys results of
operations between periods
deemed filed for purposes of Section 18 of the Securities
Exchange Act of 1934, as amended, nor shall it be deemed
incorporated by reference into any filing under the Securities
Act of 1933, as amended.
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Item 9.01
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Financial Statements and Exhibits
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(c)
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Exhibits.
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99.1 Earnings Press Release dated January 31, 2017
(furnished) |
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About G&K Services, Inc. (NASDAQ:GK)
G&K Services, Inc. is a service-focused provider of branded uniform and facility services programs. The Company provides a range of workwear and protective safety apparel through rental and direct purchase programs. The Company also supplies various facility products and services, including floor mats, towels, mops, restroom hygiene products, and first aid supplies. It also manufactures certain work apparel garments that are used to support its garment rental and direct purchase programs. It operates in two segments: United States (includes the Dominican Republic) and Canada. The Company operated from approximately 160 locations, as of July 2, 2016. The Company serves a diverse base of customer locations in various industries, including automotive, warehousing, distribution, transportation, energy, manufacturing, food processing, retail, restaurants, construction and trades, hospitality, government, healthcare and others. G&K Services, Inc. (NASDAQ:GK) Recent Trading Information
G&K Services, Inc. (NASDAQ:GK) closed its last trading session down -0.04 at 96.51 with 218,875 shares trading hands.