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UNITOG ANNOUNCES FOURTH QUARTER AND FISCAL YEAR RESULTS

 KANSAS CITY, Mo., March 16 /PRNewswire/ -- Unitog Co.'s (NASDAQ: UTOG) Chairman and President Randolph K. Rolf announced today, "Our fourth quarter results continued the trend we established during the first three quarters of fiscal 1993 by setting company records for both revenues and net earnings. Revenues for the fourth quarter were 23 percent better than the comparable period in fiscal 1992 and net earnings improved 38 percent from the fourth quarter of last year."
 Unitog's revenues for its fourth quarter were $46.1 million, an increase of $8.8 million over the comparable period last year. Net earnings were $1.8 million, or $.37 per share, an increase of $508,000, or $.10 per share, over the fourth quarter last year.
 Rolf went on to say, "At the end of fiscal 1993, we adopted the Financial Accounting Standard (SFAS 109 -- "Accounting for Income Taxes") which required us to change the method we had previously used to record income tax expense. The change in the accounting method for income taxes on a cumulative basis did not significantly affect stockholders' equity or cash flows, yet it did decrease fiscal 1993 net earnings from $6,028,000, or $1.20 per share to $5,899,000, or $1.17 per share. The effect on fiscal 1992 was to reduce net earnings to $4,337,000, or $.86 per share from $4,575,000 or $.91 per share."
 Fiscal 1993 revenues totaled $170.1 million, an increase of $27.3 million or 19 percent above last year. Net earnings of $5.9 million, or $1.17 per share, were $1.6 million, or 36 percent higher than fiscal 1992. Rolf commented, "Included in fiscal 1992's net earnings was an after-tax gain from the sales of certain linen routes of $485,000, or $.10 per share. Exclusive of this route gain, the company's net earnings were over 50 percent better than the prior year. I am very proud of the associates of Unitog for achieving these results during a lackluster national economic period."
 Unitog Co., based in Kansas City, provides uniform rental services to a variety of industries and sells custom designed uniforms. The company manufactures substantially all of the uniforms it rents or sells.
 UNITOG CO. AND SUBSIDIARIES
 Condensed Consolidated Statements of Earnings
 Quarters ended Jan. 31, 1993 and Jan. 26, 1992
 (unaudited)
 1993 1992
 Revenues:
 Rental operations $32,022,331 $23,507,347
 Direct sales 14,116,474 13,868,349
 Total revenues 46,138,805 37,375,696
 Operating costs and expenses:
 Cost of rental operations 26,030,784 19,334,831
 Cost of direct sales 11,716,373 11,785,050
 Depreciation and amortization 2,469,429 1,609,582
 General and administrative 1,660,755 1,617,557
 Total costs and expenses 41,877,341 34,347,020
 Operating income 4,261,464 3,028,676
 Interest expense 1,302,254 868,372
 Other expense (income), net 14,786 (45,115)
 Earnings before taxes 2,944,424 2,205,419
 Income taxes 1,097,000 866,000
 Net earnings $1,847,424 $1,339,419
 Net earnings per common share $.37 $.27
 Weighted average common and common
 equivalent shares outstanding 5,044,982 5,034,612
 UNITOG CO. AND SUBSIDIARIES
 Condensed Consolidated Statements of Earnings
 Years Ended Jan. 31, 1993 and Jan. 26, 1992
 1993 1992
 Revenues:
 Rental operations $115,495,702 $93,331,052
 Direct sales 54,652,828 49,503,304
 Total revenues 170,148,530 142,834,356
 Operating costs and expenses:
 Cost of rental operations 94,651,895 76,952,636
 Cost of direct sales 45,593,892 41,931,700
 Depreciation and amortization 8,835,990 6,541,478
 General and administrative 6,742,184 6,455,111
 Total costs and expenses 155,823,961 131,880,925
 Operating income 14,324,569 10,953,431
 Interest expense 4,857,134 3,838,468
 Other expense (income), net 66,895 (25,429)
 Earnings before taxes 9,400,540 7,140,392
 Income taxes 3,501,000 2,803,000
 Net earnings $5,899,540 $4,337,392
 Net earnings per common share $1.17 $.86
 Weighted average common and common
 equivalent shares outstanding 5,040,088 5,030,712
 -0- 3/16/93
 /CONTACT: J. Craig Peterson of Unitog, 816-474-7000/
 (UTOG)


CO: Unitog Co. ST: Missouri IN: SU: ERN

JL-EH -- DV007 -- 6748 03/16/93 16:48 EST
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Date:Mar 16, 1993
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