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UNITOG ANNOUNCES FIRST QUARTER FINANCIAL RESULTS

 UNITOG ANNOUNCES FIRST QUARTER FINANCIAL RESULTS
 KANSAS CITY, Mo., May 18 /PRNewswire/ -- Unitog Co. (NASDAQ: UTOG)


announced today that revenues for its first quarter ended April 26, 1992 were $37.8 million, an 8 percent increase over the comparable period last year. The company's net earnings for the first quarter of fiscal 1993 were $1.2 million or 23 cents per share, a 51 percent improvement over the comparable period last year.
 Company chairman and president, Randolph K. Rolf, stated, "Our first quarter results were much improved over last year. Our sales growth was due to added revenues from our recent acquisition of the operations of Mid West Services Inc., and from increased direct sales of postal service uniforms. Our net earnings improvement was attributable to maturing cost savings from the company's restructuring efforts."
 Rolf emphasized, "Our first quarter net earnings met our expectations. The cost reductions from our restructuring activities were sustained. We are 'on track' in the transition of the former Mid West operations into Unitog. We expect the remainder of fiscal 1993 to be a period of record revenue growth and continued profitability improvement."
 Unitog, based in Kansas City, provides uniforms and other rental services to a variety of industries and sells custom designed uniforms. The company manufactures substantially all the uniforms it rents or sells.
 UNITOG CO. AND SUBSIDIARIES
 Condensed Consolidated Statements of Earnings
 Three Months ended April 26, 1992 and April 28, 1991
 (unaudited)
 April 26, April 28,
 1992 1991
 Revenues:
 Rental operations $25,127,910 $23,152,723
 Direct sales 12,703,430 12,029,613
 Total revenues 37,831,340 35,182,336
 Cost of sales:
 Rental operations 12,831,285 12,345,963
 Direct sales 6,917,118 6,607,485
 Total cost of sales 19,748,403 18,953,448
 Gross margin 18,082,937 16,228,888
 Operating expenses:
 Rental operations 9,007,579 8,180,471
 Direct sales 4,270,454 3,933,826
 General and administrative 1,839,581 1,769,690
 Total operating expenses 15,117,614 13,883,987
 Operating income 2,965,323 2,344,901
 Interest expense 998,023 1,045,245
 Other expense, net 16,426 18,213
 Earnings before income taxes 1,950,874 1,281,443
 Income taxes 800,000 521,000
 Net earnings $1,150,874 $760,443
 Weighted average common and
 common equivalent shares
 outstanding 5,038,104 5,029,412
 Net earnings per common share $0.23 $0.15
 -0- 5/18/92
 /CONTACT: J. Craig Peterson of Unitog Co., 816-474-7000/
 (UTOG) CO: Unitog Co. ST: Missouri IN: SU: ERN


MC -- DV005 -- 1527 05/18/92 17:16 EDT
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Publication:PR Newswire
Date:May 18, 1992
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