Ladies and gentlemen, thank you for standing by. Welcome to the UniFirst Corporation conference call. [Operator Instructions] I will now like to turn the conference over to Steve Sintros, Chief Financial Officer with UniFirst Corporation. Please go ahead, sir.

Thank you, and welcome to the UniFirst Corporation conference call to review our fourth quarter and full year results for fiscal 2013, and to discuss our expectations going forward. I'm Steven Sintros, UniFirst's Chief Financial Officer. Joining me today is Ronald Croatti, UniFirst's President and Chief Executive Officer. This call will be on a listen-only mode until we complete our prepared remarks. Now before I turn the call over to Ron, I would like to give a brief disclaimer. This conference call may contain forward-looking statements that reflect the company's current views with respect to future events and financial performance. These forward-looking statements are subject to certain risks and uncertainties. The words anticipate, optimistic, believe, estimate, expect, intend and similar expressions that indicate future events and trends identify forward-looking statements. Actual future results may differ materially from those anticipated depending on a variety of factors, including, but not limited to, the continued availability of credit and the performance of the capital markets; the performance of acquisitions; fluctuations in the costs of materials, fuel and labor; and the outcome of pending and future legal and environmental matters. I refer you to our discussion of these risk factors in our most recent 10-K and 10-Q filings with the Securities and Exchange Commission. Now I will turn the call over to Ron Croatti for his comments.

Thank you, Steve, and welcome to the review of UniFirst's fourth quarter and full year results for fiscal 2013. Our numbers were released earlier today, and I am pleased to report that they showed another year of record financial results for our company. We continue to grow our operations, gain market share, reached in existing and new geographic areas, exploited more vertical market opportunities, add products to our core service offering and built upon the ongoing strength of our organization. It should be noted upfront that fiscal year 2013 had 53 weeks of operations compared to last year's traditional 52 weeks. So the impact of our financial results is about 2% on reported company growth. Steve will go over the fourth quarter and full year numbers in detail, as well as our guidance for fiscal 2014, but here's a rundown of our fiscal 2013 performance. Our fiscal 2013 UniFirst revenues were a new record, $1,356,000,000, or a 7.9% increase from the 2012 $1,256,000,000. Net income also climbed to a new high of $116.7 million, up 22.8% from last year's $95 million. I'd like to thank our entire management team, our thousands of Team Partners throughout North America and Europe for the continued dedication to UniFirst, to unwavering commitment to our customers, who fully understand and acknowledge that in the end, it's our people that allow UniFirst to grow, and that allows us to continue to lead our industry of customer service and product quality. Our Core Laundry Operations, which make up about 90% of UniFirst's overall business, reported 9.2% year-over-year revenue increase to $1,214,000,000 in 2013, setting a new revenue record for the segment. Excluding the extra week of operations, the Core Laundry grew at 7.2% for the year. The revenue improvement was primarily a result of solid new account…

Thank you, Ron. Revenues for the fourth quarter were $352.9 million, up 13% from $312.4 million a year ago. Net income was $30.6 million or $1.52 per diluted share, compared to $22.5 million or $1.13 per diluted share reported in the fourth quarter of fiscal 2012. As a reminder, as Ron mentioned, the fourth quarter, as well as the full fiscal year, included an extra week of operations compared to fiscal 2012, as fiscal 2013 was a 53-week year for the company. The extra week in fiscal 2013 accounted for revenue growth of approximately 8.1% and 2% compared to the fourth quarter and full year of fiscal 2012, respectively. Full year revenues were $1.356 billion, up 7.9% from $1.256 billion in fiscal 2012. Net income per diluted share for the full year was $5.81 compared to $4.76 from the same period a year ago. Full year results in fiscal 2012 included the positive effect of a settlement related to environmental litigation, which resulted in a $6.7 million pretax gain in the third quarter of 2012. The gain was recorded as a reduction of selling and administrative expenses. Diluted earnings per share for fiscal 2012 adjusted to eliminate the effect of the gain were $4.55. Fiscal 2013 diluted earnings per share increased 27.7% compared to the adjusted earnings from a year ago. Fourth quarter revenues in our Core Laundry Operations were $320.4 million, up 13.8% from those reported in the prior year's fourth quarter. Excluding the impact of the extra week of operations, acquisitions and a slightly weaker Canadian dollar, revenues grew 5.3%. Acquisitions accounted for growth during the quarter, of 0.6%, primarily related to the acquisition of a 2-plant operation in South Carolina that we completed during the quarter. The company's revenues continued to benefit from solid new account sales.…

[Operator Instructions] Our first question comes from the line of Justin Hauke with Robert W. Baird. Justin P. Hauke - Robert W. Baird & Co. Incorporated, Research Division: So I guess I had a question on the top line guidance, the revenue guidance for '14. You're talking about 4% organic growth, and it looks like you did an acquisition that adds maybe another 2% on top of that. You've got the weekday -- the work week adjustment that takes away 2%. But I guess I'm surprised why the guidance is only up 1% to 2% when it would seem like it should be a little higher with the organic growth that you're expecting.

I think the one flaw in your numbers there, Justin, is that the acquisition will be about 1% on next year's growth. Justin P. Hauke - Robert W. Baird & Co. Incorporated, Research Division: About 1%?

Yes. That's the biggest difference, I think, in the numbers you gave. Overall, at the mid to higher end of our range, the Core Laundry's growth will be about 5% total, which, without the acquisition, would be about 4%. We also have a little bit of a headwind from the Canadian exchange rate built in there as well. Justin P. Hauke - Robert W. Baird & Co. Incorporated, Research Division: Okay. Okay, and that's helpful. And then I guess on the CRM investments, and I appreciate you giving those numbers on it, can you just -- I want to make sure that I understood them correctly. It sounds like the margin drag from the increased D&A in 2014 is $5 million to $6 million, or is that the drag once it goes live in 2015? I just wanted to clarify that first.

Yes. That's the latter. So what we basically said was that in '14, we'll continue the development and testing of the system, but when we start deploying it in, hopefully, early '15, that's when the depreciation of divestment will start. And that deployment will occur throughout '15. It's not going to be a single-date deployment. And so that $5 million to $6 million is kind of the projected full year depreciation number once it's fully deployed. So that being said, it probably won't have that full impact on '15 either, but we were just trying to signal the level of the investment and the depreciation once fully deployed. So as we get closer and we have a better idea of the timing, we can narrow that and provide some additional color. Justin P. Hauke - Robert W. Baird & Co. Incorporated, Research Division: Got it. Okay. And then I guess my last one here for now is, I guess I'm a little surprised on the decision to use cash to pay off the debt rather than refinancing it. It sounds like that's a decision you made in September. Any updated thoughts on the balance sheet, and what you're thinking about in terms of the firm's overall capitalization and kind of the capacity that you have here?

Yes. I think, Justin, I guess just to start on the pay down. As I mentioned, we still have significant borrowing capacity under our line of credit. So I think we still have the ability to make moves from a capital allocation perspective as necessary. And we, obviously, continue to generate a significant amount of cash despite higher capital expenditure levels than normal. So I think we still feel we have that flexibility. And the fact we paid it off in September doesn't keep us from making moves as we move forward.

Our next question comes from the line of John Healy with Northcoast.

Wanted to see if you guys could give us a little bit of an update in terms of how the trends, in terms of 1Q, like any thought in terms of how September and maybe the first couple of weeks of October have trended relative to the end of the fiscal year?

John, this is Ron. We have really not seen any significant change. As we've said in our webcast, our adds versus reductions of wearers is still slightly negative for the first month. So we're not seeing the jobs. And we're actually seeing the energy sector down in the Texas area, actually slowing down. So we're forecasting basically that we're going to be slightly negative all year long.

Okay. And I wanted to ask, I know the fire and the protective garments have been a nice benefit to you and the industry for maybe the last 2 years or so. And it sounds like you're a little bit cautious on that opportunity maybe going forward. And I was wondering if you could kind of help us size how big of a business that's become for you, and how much that's contributed to the growth rate, and maybe what inning you think we're in, in terms of that opportunity?

Well, I think a couple of different things, John. As far as what we're seeing, and Ron mentioned we're seeing some slowdown in that, we're still growing higher than our average from that product line. But 2 years ago, the growth in that product line was 30%, 40%. Now I know that doesn't mean that much to you without knowing how big that is, and I don't have that number in front of me to be honest with you. But it's more of a slowdown to the annual year-over-year impact than it is that it's shutting down. It's still a strong part of the business in that part of the country in particular. The other thing that you have to keep in mind, it's not only new account growth, but there were several accounts over the last 2 years that converted from standard garments to flame-resistant garments, which are at a higher price. And so we were able to reap the benefits in our growth from that. But I don't think it's wrong to say that our overall growth was helped 2 or 3 points from flame-resistant garments when we were growing 10%, 11% during 2011 and '12.

Okay. Now that's incredibly helpful. And I just wanted to ask a little bit of a philosophical question here. When I look at your company and your margins are record high. You guys have outperformed the industry in terms of growth. Now your balance sheet is completely clean. And it sounds like you guys are signaling that you'd like to make acquisitions if you can find good businesses at reasonable price. And when I think about this industry -- I mean we haven't seen -- I know M&A has picked a little bit in the last maybe couple of quarters, but we're still not seeing a lot of activity there. So if we go through 2014 without a big pickup in terms of the M&A scenario, how do you see deploying your cash flow? I mean, how do you think about that?

Well, this is Ron. I think, number one, we believe that the acquisitions are out there. We're talking to them. It's just that we got to convince them that now is the right time. But short of using the funds for acquisitions and reinvesting in the business, we would certainly look at stock buyback probably.

Our next question comes from the line of Chris McGinnis with Sidoti & Company. Christopher McGinnis - Sidoti & Company, LLC: Can you just talk maybe a little more in depth on the -- you talked about the pricing on the newer contracts being a little bit more competitive. Is that a pickup from last quarter or is it just kind of the continuation we've seen just kind of over the last year, I think?

I think, Chris, we've seen a little more competitive pricing in the National Account arena than we did over the last 3 years. That's all I really can tell you. It seemed to pick up. The street [ph] business seems to be pretty consistent, but the National Account arena has gotten a little more competitive. Christopher McGinnis - Sidoti & Company, LLC: And is that from, if you don't mind me asking, is that from the larger competitors or is it smaller competitors?

Yes. I think, Chris, really the National Accounts were really -- when we bid on those accounts, it's really with one of our handful of large competitors. So it's really from the large competitors side that we're seeing some pricing on the National Accounts that is becoming increasingly competitive.

Our next question comes from the line of Kevin Steinke with Barrington Research.

Steve, on your last conference call, third quarter call, you'd talked about your outlook being impacted by higher-than-expected investments in new merchandise and service, and that you were going to kind of monitor that closely. Just wondering what sort of trends you're seeing there, and if that is also related to the competitive front?

I think that, that can be and has been related to the competitive front from some perspective. I will say during the fourth quarter, it moderated a little bit compared to what I was seeing toward the second half of the third quarter. It's still an area of variability for our guidance in any year as far as how much investment we're going to need to make and merchandise. I think we've said in the past that a large percentage of our merchandise investments for existing accounts, I think a lot of people equated to new accounts, which it certainly is a factor. But you're right, the competitive environment does impact merchandise investments from time to time, and it's something we're continuing to watch. So maybe a little bit better result in the fourth quarter than maybe I was indicating in the third, but something we're closely watching as the year starts here.

Our next question is a follow-up question from the line of Justin Hauke with Robert W. Baird. Justin P. Hauke - Robert W. Baird & Co. Incorporated, Research Division: Just one more quick one. Ron, you talked a little bit about new product lines in your prepared remarks. And I guess just curious if there was anything you could elaborate there in terms of what's new and kind of what your thinking is on that side.

Yes. It's in the facility services area, primarily, we're in the chemical distribution, and we found that our customers have a need for such a product. So we're very positive about that and we're trying to roll it out region by region. Justin P. Hauke - Robert W. Baird & Co. Incorporated, Research Division: And I guess how much of your business is carrying chemicals? Now how many -- maybe a percentage of routes?

I can't give you that number.

It's relatively early, Justin. We kind of put together the program, and we're starting to roll it out. We've had some large customers that adopt the program. But that number is a relatively low number right now as far as the penetration of that product.

[Operator Instructions] And there are no further questions over the phone line at this time.

All right. Well, we'd like to thank you all for the interest in UniFirst, and we reiterate that we're pleased with our fiscal 2013 financial results, and that we're cautiously optimistic for the outlook of fiscal 2014, and we look forward to talking to you again in January when we're reporting our first quarter for fiscal 2014. Thank you and have a great day.

Ladies and gentlemen, that does conclude the conference call for today. We thank you for your participation and ask that you please disconnect your line.