Top 40 distributor Cintas (asi/162167) this week reported strong fourth-quarter and fiscal year 2016 growth. Revenue for the fiscal year, which ended May 31, was $4.9 billion, a jump of 9.6% compared to the previous fiscal year. Quarterly revenue grew to $1.27 billion, an 11.3% increase over the prior year period.
The Cincinnati-based uniform provider attributes its growth in Q4, in part, to its first national branding campaign, which included the tagline Ready for the Workday. “This new tagline communicates the value we provide our customers by addressing their business needs with our broad range of products and services,” CEO Scott D. Farmer said in a press release. “Our fourth-quarter results are a reflection of the success of our employees, whom we call partners, in being ready for our customers.”
Farmer attributed growth in fiscal 2016 to acquisitions in Cintas’ uniform rental and facility services, and its first aid and fire businesses, among other factors. “I’m proud to report that we achieved record revenue,” he noted. “Our balance sheet and cash flow remain very strong.” Farmer added that he expects fiscal 2017 revenue to be in the range of $5.15 billion and $5.23 billion.
As customary, Cintas did not break out revenue figures for promotional products. Counselor ranks Cintas as the ninth-largest distributor in the industry, estimating the firm generated 2015 North American ad specialty sales of $158.5 million, a year-over-year increase of about 3%.