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UNITOG ANNOUNCES THIRD QUARTER FINANCIAL RESULTS

 KANSAS CITY, Mo., Nov. 16 ~PRNewswire~ -- Unitog Co.'s (NASDAQ-NMS: UTOG) Chairman and President Randolph K. Rolf announced today, "Revenues and net earnings for our third quarter and nine month period ended October 25, 1992 were company records."
 Unitog's revenues for the third quarter of fiscal 1993 were $43 million, an increase of 20 percent over the comparable period last year. Rolf commented, "Rental revenue increases were fueled by sales from our March 1992 acquisition. Direct sales revenue improved over the third quarter last year due to increased sales of uniform products to national customers."
 The company's net earnings for the third quarter of fiscal 1993 were $1.5 million or 30 cents per share, an increase of 10 percent over the third quarter last year. Rolf stated, "Included in last year's net earnings was a gain from the sale of certain linen routes of approximately 4 cents per share. Exclusive of this linen route gain, comparable net earnings increased 30 percent over last year. This improvement was due to increased revenue and profitability from our direct sales business and our continued companywide focus on cost reductions and expense control."
 Revenues totaled $124 million for the nine months ended Oct. 25, 1992, an increase of 18 percent over the comparable period last year. Net earnings for the nine month period ended Oct. 25, 1992, were $4 million, or 80 cents per share, a 27 percent improvement over the comparable period last year. Rolf concluded, "Exclusive of gains from linen route sales which totaled 9 cents per share for the nine month period last year, comparable net earnings increased nearly 50 percent over last year.
 Unitog, 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
 Nine Months Ended Oct. 25, 1992 and Oct. 27, 1991
 (unaudited)
 Oct. 25, Oct. 27,
 1992 1991
 Revenues:
 Rental operations $83,473,372 $69,823,705
 Direct sales 40,536,353 35,634,955
 Total revenues 124,009,725 105,458,660
 Cost of sales:
 Rental operations 43,176,468 37,536,526
 Direct sales 22,185,686 19,661,635
 Total cost of sales 65,362,154 57,198,161
 Gross margin 58,647,571 48,260,499
 Operating expenses:
 Rental operations 30,349,146 23,450,169
 Direct sales 12,547,988 11,253,611
 General and administrative 5,363,175 5,107,627
 Total operating expenses 48,260,309 39,811,407
 Operating income 10,387,262 8,449,092
 Interest expense 3,554,880 2,970,096
 Other expense, net 37,104 106,113
 Earnings before income taxes 6,795,278 5,372,883
 Income taxes 2,786,000 2,211,000
 Net earnings $4,009,278 $3,161,883
 Weighted average common and
 common equivalent shares
 outstanding 5,038,228 5,029,412
 Net earnings per common share $0.80 $0.63
 Condensed Consolidated Statements of Earnings
 Quarters Ended Oct. 25, 1992 and Oct. 27, 1991
 (unaudited)
 Oct. 25, Oct. 27,
 1992 1991
 Revenues:
 Rental operations $29,463,426 $23,364,042
 Direct sales 13,424,261 12,480,353
 Total revenues 42,887,687 35,844,395
 Cost of sales:
 Rental operations 15,332,385 12,509,442
 Direct sales 7,233,426 6,827,010
 Total cost of sales 22,565,811 19,336,452
 Gross margin 20,321,876 16,507,943
 Operating expenses:
 Rental operations 10,772,608 7,546,012
 Direct sales 4,027,877 3,854,903
 General and administrative 1,722,868 1,771,399
 Total operating expenses 16,523,353 13,172,314
 Operating income 3,798,523 3,335,629
 Interest expense 1,228,402 916,410
 Other expense, net 8,347 56,192
 Earnings before income taxes 2,561,774 2,363,027
 Income taxes 1,050,000 992,000
 Net earnings $1,511,774 $1,371,027
 Weighted average common and
 common equivalent shares
 outstanding 5,037,099 5,029,412
 Net earnings per common share $0.30 $0.27
 -0- 11~16~92
 ~CONTACT: J. Craig Peterson of Unitog, 816-474-7000~
 (UTOG)


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

MC -- DV011 -- 1514 11~16~92 17:27 EST
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Date:Nov 16, 1992
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