This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

EnviroStar, Inc. Announces Second Quarter Results

EnviroStar, Inc., (NYSE Amex: EVI), today reported revenues and earnings for the six and three month periods ended December 31, 2010. For the first six months of fiscal 2011, revenues increased by 3.8% to $10,118,259 from $9,749,931 for the same period of fiscal 2010. Net income increased by 42.5% to $214,066 or $.03 per share compared to net income of $150,273 or $.02 per share for the same period of fiscal 2010.

For the second quarter of fiscal 2011, revenues decreased by 14.0% to $5,264,209 from $6,121,661 in the comparable period of fiscal 2010. Net income for the period decreased by 62.9% to $82,114 or $.01 per share compared to $221,171 or $.03 per share for the second quarter of fiscal 2010.

Venerando J. Indelicato, Chief Financial Officer of EnviroStar Inc., stated, “As mentioned in prior reports, quarterly results are not necessarily indicative of full year results as shipments are sometimes delayed due to a number of operating reasons. This is illustrated in the second quarter of fiscal 2011 which does not compare favorably to the second quarter of last year, when the Company was able to ship a good part of its backlog. However, six month results show an improvement, with sales of boilers increasing by 176.5% for the six month period and 178.6% for the three month period.” Mr. Indelicato also stated that, “Incoming orders have been trending higher, which is a good indication that the economy is improving.”

EnviroStar, Inc. through its subsidiaries is one of the nation’s leading distributors of industrial laundry, dry cleaning equipment and steam boilers. Its subsidiary, DRYCLEAN USA License Corp., is one of the largest franchise and license operations in the dry cleaning industry in the United States, the Caribbean and Latin America.

This press release contains certain information that is subject to a number of known and unknown risks and uncertainties that may cause actual results and trends to differ materially from those expressed or implied by the forward-looking statements. Information concerning those factors are discussed in Company reports filed with the Securities and Exchange Commission.

EnviroStar, Inc. and Subsidiaries   (NYSE Amex:EVI)

                              Summary Unaudited Consolidated Statements of Income
Six months ended Three months ended
December 31, December 31,
2010   2009 2010   2009
Revenues   $ 10,118,259 $ 9,749,931 $ 5,264,209 $ 6,121,661

Income before income
taxes 336,306 243,181 133,366 356,614
Provision for income taxes     132,240     92,908     51,252     135,443
Net income $ 214,066 $ 150,273 $ 82,114 $ 221,171
Basic and diluted
earnings per share $ .03 $ .02 $ .01 $ .03
Weighted average shares
Basic and diluted 7,033,732 7,033,732 7,033,732 7,033,732

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.09 -0.57%
FB $118.27 0.18%
GOOG $699.23 0.51%
TSLA $215.04 -3.40%
YHOO $37.02 2.80%


Chart of I:DJI
DOW 17,691.78 +40.52 0.23%
S&P 500 2,056.24 +5.12 0.25%
NASDAQ 4,736.6340 +10.9950 0.23%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs