Work uniforms and custom corporate apparel maker Cintas (Nasdaq:CTAS) released 3Q FY 2007 revenue and earnings information after the market closed on 20 March 2007. Revenue for the current quarter increased 8.2% to $905.4 million. Diluted earnings per share (EPS) increased 6.7% to $0.48. Net income was essentially flat, $76.7 million for the current quarter versus $76.6 million for 3Q 2006. Cintas CEO Scott Farmer pointed to three major reasons for Cintas' 3Q situation. A mild winter in much of the country meant a lower demand for winter uniform jackets. Continuing loss of manufacturing jobs to overseas markets has a direct impact on the quantity of demand for uniform work apparel. As well, Cintas has been reorganizing its entire sales force for the past several months.

CEO Farmer was guardedly optimistic with 3Q FY2007 results. Cintas is expanding both its product line and its geographic base for customers. Currently Cintas provides work-related apparel and/or promotional products, mats and restroom supplies to more than 700,000 businesses.

Cintas has been actively buying back shares of its common stock. In 3Q 2007, CIntas purchased 1.4 million shares at a total cost of $57 million. To date, Cintas has repurchased over 14 million of its shares, approximately 8% of the total shares outstanding, at a total cost of $580 million. Cintas currently has $420 million remaining to continue to fund its stock buyback program.

CEO Farmer estimates revenue for entire FY 2007 will be $3.675 - $3.725 billion. This range is down from previously forecast revenue projections of $3.77-$3.85 billion. Diluted EPS will be $2.03-$2.08, down from previously forecasted $2.10-$2.20 range. Cintas is on track for its 38th consecutive year of growth in sales and earnings.

The stock closed up 0.47 to $$40.51, but fell to $37.66 in after hours trading.