Aramark profit up despite NHL lockout

CHICAGO (Reuters) -- Aramark Corp. on Wednesday posted higher quarterly profit as food service sales at health-care facilities and schools offset the effects of the National Hockey League player lockout on sales at sports arenas.

Aramark shares rose more than 5% in midday trading on the New York Stock Exchange. In its earnings statement, the company made no mention of the $105 million judgment against it handed out by a New Jersey jury in a drunk-driving accident that left a youngster a quadriplegic. The company is appealing.

Profit for the Philadelphia-based company, which also manages facilities and rents uniforms, was $72.4 million, or 38 cents per share, in the fiscal first quarter ended Dec. 31. That compares with profit of $67.4 million, or 35 cents a share, a year earlier.

Analysts on average had forecast earnings of 35 cents a share, according to Reuters Estimates.

Sales rose 23% to $2.73 billion. U.S. food service and support sales rose 7% to $1.8 billion.

The company forecast fiscal second-quarter sales of $2.5 billion to $2.7 billion, with earnings per share of 25 cents to 27 cents. Analysts on average forecast 26 cents a share, according to Reuters Estimates.

Aramark shares were up 89 cents at $26.69 in early activity.