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UNITOG CO. ANNOUNCES SECOND QUARTER AND SIX-MONTH RESULTS FOR PERIODS ENDED AUG. 1, 1993

 KANSAS CITY, Mo., Aug. 25 /PRNewswire/ -- Unitog Co. (NASDAQ: UTOG) today announced improved profitability during its second quarter ended Aug. 1, 1993. Net earnings were $1.8 million, an increase of 31 percent over the comparable period last year. Chairman and Chief Executive Officer Randolph K. Rolf stated, "Improved operating results from both the rental and direct sales business segments coupled with reduced interest expense created the increase over last year."
 Revenues for the second quarter were approximately the same as last year. Rolf commented, "Rental revenues for the second quarter increased $2 million, or 7 percent, over the comparable period last year. The increase in rental revenues was principally due to internal growth within our network of existing locations. Direct sales for the second quarter, however, decreased $2 million, or 16 percent, from the comparable period last year. As discussed in our first quarter report, this decline was expected because last year's second quarter included the introduction of several image programs with national customers, new postal products, and the reduction of a record level of unshaped orders from the first quarter of last year."
 Net earnings for the six-month period ended Aug. 1, 1993, were $3.2 million, or 28 percent better than last year. Net earnings per share were $.56, an increase of $.06 per share, or 12 percent, over the comparable period last year; weighted average shares outstanding have increased 13 percent over last year due to a recent public stock offering.
 Revenues totaled $86 million for the six-month period ended Aug. 1, 1993, an increase of 6 percent over the comparable period last year. Rolf went on to say, "Continuing improvement in internal rental revenue growth and revenues from last year's acquisitions increased rental revenue by $7 million or 13 percent, over fiscal 1993. Direct sales decreased $2 million, or 8 percent, from last year. This sales decline was expected due to customers ordering a full complement of uniforms with last year's new programs causing this year's garment reorders to be largely replacement garments or uniforms for new customer employees."
 Unitog Co., 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 of the uniforms it rents or sells.
 UNITOG CO. AND SUBSIDIARIES
 Condensed Consolidated Statements of Earnings
 (Unaudited)
 Quarter Ended Six Months Ended
 Aug. 1, July 26, Aug. 1, July 26,
 1993 1992 1993 1992
 Revenues:
 Rental
 operations $30,896,548 $28,882,035 $61,294,902 $54,009,945
 Direct sales 12,152,301 14,408,663 25,037,885 27,112,093
 Total revenues 43,048,849 43,290,698 86,332,787 81,122,038
 Operating costs
 and expenses:
 Cost of rental
 operations 25,403,684 23,722,788 50,667,823 44,338,295
 Cost of direct
 sales 9,945,700 11,978,752 20,503,898 22,918,171
 Depreciation and
 amortization 2,334,171 2,263,527 4,692,004 4,038,570
 General and
 administrative 1,696,561 1,808,605 3,381,951 3,453,129
 Total costs and
 expenses 39,380,116 39,773,672 79,245,676 74,748,165
 Operating income 3,668,733 3,517,026 7,087,111 6,373,873
 Interest expense 811,952 1,328,457 1,899,432 2,326,480
 Other expenses,
 net 6,056 18,993 30,696 39,997
 Earnings before
 income taxes 2,850,725 2,169,576 5,156,983 4,007,396
 Income taxes 1,061,000 808,000 1,949,000 1,492,000
 Net earnings $1,789,725 $1,361,576 $3,207,983 $2,515,396
 Net earnings per
 common share $.29 $.27 $.56 $.50
 Weighted average
 common and
 common equivalent
 shares
 outstanding 6,209,056 5,038,792 5,715,003 5,038,792
 -0- 8/25/93 R
 /CONTACT: J. Craig Peterson of Unitog, 816-474-7000/
 (UTOG)


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

EH-JB -- LA019 -- 6115 08/26/93 12:03 EDT
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Date:Aug 26, 1993
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