UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 1, 2005
G&K Services, Inc.
(Exact name of registrant as specified in its charter)
Minnesota 0-4063 41-0449530
(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
5995 Opus Parkway, Minnetonka, Minnesota 55343
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (952) 912-5500
NOT APPLICABLE
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
___ Written communications pursuant to Rule 425 under Securities Act
(17 CFR 230.425)
___ Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
___ Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
___ Pre-commencement communications pursuant to Rule 13d-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
Item 2.02 Results of Operations and Financial Condition
The information in this Item is furnished to, but not filed with, the
Securities and Exchange Commission (the "Commission") solely under Item 2.02 of
Form 8-K, "Results of Operations and Financial Condition."
On February 1, 2005, G&K Services, Inc. issued a press release announcing
its financial results for the fiscal quarter ended January 1, 2005. A copy of
the press release is furnished as Exhibit 99.1 to this report and is
incorporated herein by reference. The press release contains certain non-GAAP
financial measures, including the organic industrial rental growth rate, organic
direct sale growth rate and free cash flow. The organic growth rates are
calculated using industrial rental and direct sale revenues, respectively,
adjusted for foreign currency exchange rate differences and revenues from newly
acquired locations. Management believes that by eliminating the impact of the
U.S.-Canadian exchange rate and the effects of the Company's recent business
acquisitions, the organic growth rates better reflect the growth of our existing
industrial rental and direct sale business and are therefore useful in analyzing
the financial condition of the Company and the results of its operations. Free
cash flow is cash provided by operating activities less capital expenditures.
Management believes that this is an important financial measure because it
indicates the Company's ability to expand, acquire additional business, pursue
debt reduction and pay dividends.
Item 9.01 Financial Statements and Exhibits.
(c) Exhibits.
99.1 Press Release dated February 1, 2005.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
G&K SERVICES, INC.
(Registrant)
Date: February 1, 2005 By: /s/ Jeffrey L. Wright
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Name: Jeffrey L. Wright
Title: Senior Vice President and Chief
Financial Officer
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EXHIBIT INDEX
Exhibit No. Description
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99.1 Press Release dated February 1, 2005
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