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CINTAS CORPORATION COMPLETES YEAR WITH RECORD SALES AND PROFITS

CINTAS CORPORATION COMPLETES YEAR WITH RECORD SALES AND PROFITS
 CINCINNATI, July 29 /PRNewswire/ -- Cintas Corporation (NASDAQ: CTAS) announced today that fiscal year 1992, which ended May 31, 1992, was its 23rd year of uninterrupted growth in sales and net income.
 Sales for the year were $401.6 million, a 14 percent increase over last year, and net income was $39.2 million, a 25 percent increase over last year. Earnings per share increased to $.85 from $.69 in fiscal 1991, a 23 percent increase.
 For the fourth quarter, sales increased 12 percent to $104.1 million and net income increased 24 percent to $10.9 million. Earnings per share of $.24 represents a 26 percent increase over the fourth quarter a year ago.
 On Oct. 1, 1991, the company acquired Rental Uniform Service of Greenville, S.C. This acquisition has been accounted for as a pooling of interests and accordingly all financial information for prior periods has been restated to reflect the combination of Cintas and Rental Uniform Service as if the two companies had always been one entity. This accounting treatment does not reflect the actual revenue growth that occurred this year. When compared to the company's originally reported results for last year, revenues increased 22 percent for the quarter and 24 percent for the year.
 Richard T. Farmer, chairman and chief executive officer, stated, "Despite poor economic conditions, fiscal year 1992 was a very exciting year as the company made progress on many fronts:
 "Acquisitions
 "In October, the company acquired Rental Uniform Service of Greenville, S.C. (RUS). RUS, with annual sales of $30 million, is a regional leader in the uniform rental business with 17 operations in the Southeast and Southwest. In March, the company also acquired Uniwear, Inc., an Akron-based uniform rental company with annual revenues of $7 million.
 "On May 28, 1992, we also announced an agreement to acquire Seattle- based Maryatt Industries. Maryatt has operations in nine cities and services four states, primarily in the Pacific Northwest, Arizona and California. We hope to close this transaction within the next 60 to 90 days.
 "Subsequent to May 31, 1992, we acquired Miami-based Uniforms for Industry. This acquisition will be integrated into our new Miami plant when it comes on stream later this year.
 "Market Expansion
 "During the fiscal year we expanded into 15 new markets including cities such as Lansing, Mich.; Memphis, Tenn.; Sacramento, Calif.; and Pensacola, Fla. Each of these markets are being served from existing facilities.
 "Facility Expansion
 "Construction was completed on three new uniform rental plants in Buffalo, N.Y.; Dayton, Ohio; and Nashville, Tenn. to accommodate the growth in those markets. Plants are also in various phases of construction in Pittsburgh; New Orleans; Kansas City, Kan.; Baton Rouge, La.; and Miami. These plants will open later this year.
 "The uniform rental industry is healthy and the potential for continued growth is exciting. The company looks forward to making fiscal 1993 its 24th consecutive year of uninterrupted growth in sales and net income."
 Cintas is a leader in the business of designing, planning and implementing corporate identity uniform programs. The company has 85 uniform rental facilities located in 28 states and the Province of Ontario, Canada. It is a publicly held company traded over NASDAQ under the symbol CTAS.
 CINTAS CORPORATION
 FOURTH QUARTER RESULTS
 Fiscal 1992 and 1991
 (000s)
 (Unaudited)
 Three Months Ended
 May 31
 Percent
 1992 1991 Increase
 Sales $104,086 $ 92,862 12 pct.
 Net Income $ 10,870 $ 8,775 24 pct.
 Earnings Per Share $.24 $.19 26 pct.
 Weighted Shares
 Outstanding 46,189 46,036
 Twelve Months Ended
 May 31
 Percent
 1992 1991 Increase
 Sales $401,563 $352,480 14 pct.
 Income Before Cumulative
 Effect of Change in
 Accounting Principle $ 36,490 $ 31,339 16 pct.
 Cumulative Effect of
 Change in Accounting
 Principle $ 2,705(A) -- --
 Net Income $ 39,195 $ 31,339 25 pct.
 Earnings Per Share:
 Before Cumulative
 Effect of Change in
 Accounting Principle $.79 $.69 14 pct.
 Cumulative Effect
 of Change in Accounting
 Principle $.06(A) -- N/A
 Earnings Per Share $.85 $.69 23 pct.
 Weighted Shares
 Outstanding 46,145 45,492
 (A) - In the first quarter of Fiscal 1992, the company adopted SFAS 96, a change in accounting for income taxes which resulted in a $2.7 million gain or $.06 per share.
 -0- 7/29/92
 /CONTACT: David T. Jeanmougin, 513-573-4089; or Karen L. Carnahan, 513-573-4013; both of Cintas Corporation/
 (CTAS) CO: Cintas Corporation ST: Ohio IN: SU: ERN


KK -- CL012 -- 4715 07/29/92 15:09 EDT
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