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): August 16, 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 August 16, 2005, G&K Services, Inc. issued a press release announcing its
financial results for the fiscal quarter ended July 2, 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, revenues from newly acquired locations and
the extra week recorded in the prior-year quarter. Management believes that by
eliminating the impact of the U.S.-Canadian exchange rate, the effects of the
Company's recent business acquisitions and the extra week recorded in the
prior-year quarter, 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 August 16, 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: August 16, 2005 By: /s/ Jeffrey L. Wright
-----------------------------
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 August 16, 2005
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