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): April 29, 2003
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, Suite 500, 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)
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Item 7. Financial Statements and Exhibits.
(c) Exhibits.
99.1 Press Release dated April 29, 2003.
Item 9. Information Provided Under Item 12 "Disclosure of 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 12 of Form 8-K,
"Results of Operations and Financial Condition," pursuant to interim procedures
promulgated by the Commission in Release No. 33-8216 issued March 27, 2003.
On April 29, 2003, G&K Services, Inc. issued a press release announcing its
financial results for the fiscal quarter ended March 29, 2003. 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 organic industrial rental growth rate and free cash flow.
The organic industrial rental growth rate is calculated using industrial rental
revenue adjusted for foreign currency exchange rate differences and revenue from
newly acquired locations compared to prior-period results. Management believes
that the organic industrial rental growth rate is important to investors because
it is a more meaningful indicator of the growth of our existing industrial
business. It eliminates the impact of the U.S.-Canadian exchange rate and the
affects of several recent acquisitions of business assets. 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, reduce debt and pay
dividends.
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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: April 29, 2003 By: /s/ Jeffrey L. Wright
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Name: Jeffrey L. Wright
Title: Chief Financial Officer and Secretary
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EXHIBIT INDEX
Exhibit No. Description
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99.1 Press Release dated April 29, 2003