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UNITOG ANNOUNCES FIRST QUARTER FINANCIAL RESULTS

 KANSAS CITY, Mo., May 24 /PRNewswire/ -- Unitog Co.'s (NASDAQ-NMS: UTOG) chairman and president Randolph K. Rolf announced today, "Our fiscal 1994 first quarter results were as planned. Revenues, operating income and net earnings were substantially better than the comparable period in fiscal 1993."
 Unitog's revenues for the first quarter were $43.3 million, an increase of $5.5 million or 14 percent over last year. Operating income was $3.4 million, increasing 20 percent over the comparable period last year. Net earnings were $1.4 million (27 cents per share), improving 23 percent over the prior year's first quarter.
 In April 1993, Unitog completed its sale of 1,150,000 shares of common stock to the public. Rolf commented, "We were pleased with the results of the stock sale which netted the company $21.7 million. The offering proceeds were used to reduce long-term debt, resulting in a substantial improvement in our balance sheet. We believe the company is well positioned to continue acquiring additional uniform rental companies."
 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 May 2, 1993 and April 26, 1992
 (unaudited)
 May 2, April 26,
 1993 1992
 Revenues:
 Rental operations $30,398,354 $25,127,910
 Direct sales 12,885,584 12,703,430
 Total revenues 43,283,938 37,831,340
 Cost of sales:
 Cost of rental operations 25,264,139 20,615,507
 Cost of direct sales 10,558,198 10,939,419
 Depreciation and amortization 2,357,833 1,775,043
 General and administrative 1,685,390 1,644,524
 Total costs and expenses 39,865,560 34,974,493
 Operating income 3,418,378 2,856,847
 Interest expense 1,087,480 998,023
 Other expenses, net 24,640 21,004
 Earnings before income taxes 2,306,258 1,837,820
 Income taxes 888,000 684,000
 Net earnings $1,418,258 $1,153,820
 Net earnings per common share $0.27 $0.23
 Weighted average common and common
 equivalent shares outstanding 5,244,019 5,038,104
 -0- 5/24/93
 /CONTACT: J. Craig Peterson of Unitog, 816-474-7000/
 (UTOG)


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

MC-AC -- DV004 -- 1898 05/24/93 17:50 EDT
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Publication:PR Newswire
Date:May 24, 1993
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