ARAMARK CORP - FORM 8-K - EX-99.1 - ARAMARK CORPORATION FINANCIAL REPORTS AND SCHEDULES - November 18, 2009

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Exhibit 99.1

ARAMARK CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)

(In Thousands)

 

     Three Months Ended
October 2, 2009		    Three Months Ended
October 3, 2008
       

Sales

    $ 3,072,544    $ 3,566,277
             

Costs and Expenses:

      

Cost of services provided

      2,773,853      3,223,383

Depreciation and amortization

      127,575      134,954

Selling and general corporate expenses

      40,116      33,165
             
     2,941,544      3,391,502
             

Operating income

      131,000      174,775

Interest and other financing costs, net

      108,462      132,348
             

Income before income taxes

      22,538      42,427

Provision for income taxes

      6,107      8,803
             

Net income

    $ 16,431    $ 33,624
             

Note:

The three month period of fiscal 2009 is a 13 week period and the three month period of fiscal 2008 is a 14 week period.

ARAMARK CORPORATION AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(Unaudited)

(In Thousands)

 

     Fiscal Year
Ended
October 2, 2009		     Fiscal Year
Ended
October 3, 2008
    

Sales

    $ 12,297,869      $ 13,470,152
              

Costs and Expenses:

     

Cost of services provided

      11,173,725        12,218,089

Depreciation and amortization

      503,123        509,137

Selling and general corporate expenses

      183,492        176,790
              
     11,860,340        12,904,016
              

Operating income

      437,529        566,136

Interest and other financing costs, net

      472,305        514,690
              

Income (loss) before income taxes

      (34,776 )      51,446

Provision (benefit) for income taxes

      (27,865 )      11,986
              

Net income (loss)

    $ (6,911 )    $ 39,460
              

Note:

The twelve month period ended October 2, 2009 is a 52 week period and the twelve month period ended October 3, 2008 is a 53 week period.

ARAMARK CORPORATION AND SUBSIDIARIES

SELECTED CONSOLIDATED BALANCE SHEET DATA

(Unaudited)

(In Thousands)

 

     October 2, 2009    October 3, 2008

Assets

      

Current Assets

    $ 1,688,434    $ 1,798,320

Property and Equipment, net

      1,160,511      1,223,096

Goodwill

      4,526,376      4,512,133

Other Intangible Assets

      2,056,337      2,215,321

Other Assets

      867,767      774,533
             
   $ 10,299,425    $ 10,523,403
             

Liabilities and Shareholder’s Equity

      

Current Liabilities (1)

    $ 1,734,579    $ 1,811,644

Long-Term Borrowings

      5,677,740      5,804,880

Other Liabilities

      1,350,346      1,337,472

Common Stock Subject to Repurchase

      176,395      229,628

Total Shareholder’s Equity

      1,360,365      1,339,779
             
   $ 10,299,425    $ 10,523,403
             

Note:

(1) Includes $43.9 million and $54.7 million of current maturities of long-term borrowings as of October 2, 2009 and October 3, 2008, respectively.

ARAMARK CORPORATION AND SUBSIDIARIES

SELECTED CONSOLIDATED CASH FLOW DATA

(Unaudited)

(In Thousands)

 

     Fiscal Year
Ended
October 2, 2009		     Fiscal Year
Ended
October 3, 2008		  
    
    

Cash flows from operating activities:

     

Net income (loss)

    $ (6,911 )    $ 39,460   

Adjustments to reconcile net income (loss) to net cash provided by operating activities:

     

Depreciation and amortization

      503,123        509,137   

Income taxes deferred

      (68,064 )      (18,264 ) 

Stock-based compensation expense

      25,396        11,760   

Changes in noncash working capital

      202,127        (88,300 ) 

Net change in proceeds from sale of receivables

      (14,560 )      17,000   

Other operating activities

      66,124        23,357   
                

Net cash provided by operating activities

      707,235        494,150   
                

Cash flows from investing activities:

     

Net purchases of property and equipment and client contract investments

      (330,332 )      (350,397 ) 

Acquisitions and other investing activities

      (134,465 )      (54,792 ) 
                

Net cash used in investing activities

      (464,797 )      (405,189 ) 
                

Cash flows from financing activities:

     

Net payments of additional long-term borrowings

      (146,842 )      (20,590 ) 

Proceeds from issuance of Parent Company common stock

      3,380        5,417   

Repurchase of Parent Company stock

      (22,989 )      (9,870 ) 

Other financing activities

      (262 )      1,363   
                

Net cash used in financing activities

      (166,713 )      (23,680 ) 
                

Increase in cash and cash equivalents

    $ 75,725      $ 65,281   
                

Notes:

(1) The twelve month period ended October 2, 2009 is a 52 week period and the twelve month period ended October 3, 2008 is a 53 week period.
(2) Certain prior period balances have been reclassified to conform to the current year presentation.

ARAMARK CORPORATION AND SUBSIDIARIES

SALES AND OPERATING INCOME BY SEGMENT

SUPPLEMENTAL DATA

(Unaudited)

(In Thousands)

 

     Three Months Ended
October 2, 2009		     Three Months Ended
October 3, 2008
    

Sales

     

Food and Support Services - North America

    $ 2,123,090      $ 2,374,711

Food and Support Services - International

      580,370        730,064

Uniform and Career Apparel

      369,084        461,502
              
   $ 3,072,544      $ 3,566,277
              

Operating Income

     

Food and Support Services - North America

    $ 98,340      $ 116,681

Food and Support Services - International

      20,481        21,441

Uniform and Career Apparel

      21,780        34,329
              
     140,601        172,451

Corporate

      (9,601 )      2,324
              
   $ 131,000      $ 174,775
              

Note:

The three month period of fiscal 2009 is a 13 week period and the three month period of fiscal 2008 is a 14 week period.

ARAMARK CORPORATION AND SUBSIDIARIES

SALES AND OPERATING INCOME BY SEGMENT

SUPPLEMENTAL DATA

(Unaudited)

(In Thousands)

 

     Fiscal Year
Ended
October 2, 2009		     Fiscal Year
Ended
October 3, 2008		  
    

Sales

     

Food and Support Services - North America

    $ 8,393,476      $ 8,924,863   

Food and Support Services - International

      2,326,746        2,783,033   

Uniform and Career Apparel

      1,577,647        1,762,256   
                
   $ 12,297,869      $ 13,470,152   
                

Operating Income

     

Food and Support Services - North America

    $ 349,348      $ 386,804   

Food and Support Services - International

      83,414        97,181   

Uniform and Career Apparel

      61,837        126,615   
                
     494,599        610,600   

Corporate

      (57,070 )      (44,464 ) 
                
   $ 437,529      $ 566,136   
                

Note:

The twelve month period ended October 2, 2009 is a 52 week period and the twelve month period ended October 3, 2008 is a 53 week period.

ARAMARK CORP Reports