Cintas Corporation reported unaudited consolidated earnings results for the third quarter and nine months ended February 28, 2013. For the quarter, the company's total revenue was $1,075,674,000 compared to $1,012,112,000 a year ago. Operating income was $133,023,000 compared to $137,536,000 a year ago. These decreases were due in part to the effect of one less workday compared to last year's third quarter. In addition, continuing solid new business sales have resulted in higher material cost amortization and the need for additional route capacity in route based businesses. Income before income taxes was $116,853,000 compared to $120,690,000 a year ago. Net income was $74,705,000 or $0.60 per diluted share compared to $76,035,000 or $0.58 per diluted share a year ago. EPS increased despite the decrease in net income as a result of the positive impact of the company's share buyback program in fiscal 2012 and 2013. Capital expenditures were $52,737,000 compared to $37,884,000 a year ago. EBITDA was $180,987,000 compared to $185,969,000 a year ago. Revenue adjusted for workday difference was $1,092,481,000 compared to $1,012,112,000 a year ago. Cash provided by operating activities in the third quarter was $141,000,000, which is up from last year's third quarter amount of $132,000,000. For the nine months, the company's total revenue was $3,187,385,000 compared to $3,048,418,000 a year ago. Operating income was $411,340,000 compared to $398,795,000 a year ago. Income before income taxes was $362,504,000 compared to $347,655,000 a year ago. Net income was $229,465,000 or $1.83 per diluted share compared to $219,023,000 or $1.67 per diluted share a year ago. Capital expenditures were $151,799,000 compared to $117,716,000 a year ago. Revenue adjusted for workday difference was $3,203,731,000 compared to $3,048,418,000 a year ago. Net cash provided by operating activities was $368,343,000 compared to $307,714,000 a year ago. The company expects the effective tax rate for the entire 2013 fiscal year to be approximately 37.0%, which would be slightly higher than last year's effective tax rate of 36.8%. The company updates its fiscal 2013 guidance with revenue in the range of $4.3 billion to $4.325 billion and EPS to be in the range of $2.50 to $2.54. This guidance assumes no deterioration in the U.S. economy and does not consider any additional share buybacks.

Basware announced that it has closed a reseller agreement with Cintas Document Management. Cintas provides highly specialized services to businesses of all types primarily throughout North America. According to the agreement Cintas will sell Basware Purchase to Pay (P2P) /Accounts Payable Automation services as an addition to its current service offering. In addition, Cintas Document Management has been recently certified by Basware as an Imaging Service Bureau provider to handle the conversion of paper invoices to digital.

Cintas Corporation, Q3 2013 Earnings Call, Mar 19, 2013