Article: G&K Services Reports Fiscal 2010 First Quarter Results.(Financial report)

G&K Services, Inc. (NASDAQ: GKSR), reported first quarter fiscal 2010 revenue of $208.1 million, which compares to revenue of $245.2 million in the prior-year period. The company reported first quarter net earnings of $0.18 per diluted share, compared to $0.08 per diluted share in the prior year. Current year earnings included severance and other costs associated with staff reductions in the company's corporate headquarters, divestiture activity and eliminating the company's former regional office structure, which totaled approximately $0.04 per diluted share. Prior-year first quarter earnings included cost reduction actions and the establishment of, or increase to, ...

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