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Stock impact report

UniFirst Announces Financial Results for the First Quarter of Fiscal 2018

Unifirst Corporation (UNF) 
Last unifirst corporation earnings: 4/1 08:00 am Check Earnings Report
US:NYSE Investor Relations: investors.unifirst.com/investor-overview
Company Research Source: GlobeNewswire
WILMINGTON, Mass., Jan. 03, 2018 (GLOBE NEWSWIRE) -- UniFirst Corporation (NYSE:UNF) today announced results for its first quarter which ended November 25, 2017. Revenues for the quarter were $415.8 million, up 7.7% from $386.1 million in the same year ago period. Net income in the quarter was $34.2 million ($1.67 per diluted share), compared to net income of $28.2 million ($1.38 per diluted share) in the first quarter of fiscal 2017. During our first quarter of fiscal 2018 we adopted Accounting Standards Update 2016-09 (ASU 2016-09), Improvements to Employee Share-Based Payment Accounting. Under ASU 2016-09, excess tax benefits and deficiencies associated with employee share-based payments are no longer recognized as additional paid-in capital on the balance sheet but instead recognized directly to income tax expense or benefit in the income statement in the reporting period in which they occur.  The net benefit in our first quarter to fully diluted earnings per share from the ado Show less Read more
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