EXHIBIT 99.1
Report of Independent Registered Public Accounting Firm
The Board of Directors and Stockholders
G&K Services, Inc.
G&K Services, Inc.
We have audited the consolidated financial statements of G&K Services, Inc. and subsidiaries (the Company) as of June 28, 2008, and June 30, 2007, and for each of the three years in the period ended June 28, 2008, and have issued our report thereon dated August 27, 2008 (included elsewhere in this Form 10-K). Our audits also included the financial statement schedule listed in Item 15(a) of this Annual Report (Form 10-K) for the year ended June 28, 2008. This schedule is the responsibility of the Company’s management. Our responsibility is to express an opinion based on our audits.
In our opinion, the financial statement schedule referred to above, when considered in relation to the basic financial statements taken as a whole, presents fairly, in all material respects, the information set forth therein.
/s/ Ernst & Young LLP | ||
Ernst & Young LLP |
Minneapolis, Minnesota
August 27, 2008
August 27, 2008
G&K Services, Inc.
Schedule II — Valuation and Qualifying Accounts and Reserves
(In millions)
Schedule II — Valuation and Qualifying Accounts and Reserves
(In millions)
Additions | ||||||||||||||||||||
Balance at | Charged to | Charged to | ||||||||||||||||||
Beginning of | Costs and | Other | Balance at | |||||||||||||||||
Description | Year | Expenses | Accounts | Deductions | End of Year | |||||||||||||||
Allowance for Doubtful Accounts | ||||||||||||||||||||
June 28, 2008 | $ | 3.4 | $ | 3.6 | $ | — | $ | 2.5 | $ | 4.5 | ||||||||||
June 30, 2007 | $ | 3.0 | $ | 2.0 | $ | — | $ | 1.6 | $ | 3.4 | ||||||||||
July 1, 2006 | $ | 2.9 | $ | 1.9 | $ | — | $ | 1.8 | $ | 3.0 | ||||||||||
Inventory Reserve | ||||||||||||||||||||
June 28, 2008 | $ | 2.3 | $ | 0.7 | $ | — | $ | 0.8 | $ | 2.2 | ||||||||||
June 30, 2007 | $ | 2.3 | $ | 0.2 | $ | — | $ | 0.2 | $ | 2.3 | ||||||||||
July 1, 2006 | $ | 2.4 | $ | 0.2 | $ | — | $ | 0.3 | $ | 2.3 | ||||||||||