This Day On The Street
Continue to site
ADVERTISEMENT
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 Third Quarter Results

EnviroStar, Inc. (NYSE Amex:EVI) today reported revenues and earnings for the nine and three month periods ended March 31, 2011.

For the nine month period of fiscal 2011, revenues increased by 7.5% to $14,882,829 from $13,844,574 for the same period of fiscal 2010. Net income increased by 41.4% to $305,907 or $.04 per share compared to net income of $216,372 or $.03 per share for the same period of fiscal 2010.

For the third quarter of fiscal 2011, revenues were $4,764,570, an increase of 16.4% from $4,094,643 in the comparable period of fiscal 2010. Net income for the current year period was $91,841 or $.01 per share, an increase of 38.8% from $66,179 or $.01 per share for the third quarter of fiscal 2010.

Venerando J. Indelicato, Chief Financial Officer of EnviroStar Inc., stated, “We are pleased with the Company’s results for the nine and three month periods of fiscal 2011, despite a challenging economy. Incoming orders have been trending higher during fiscal 2011, increasing the Company’s backlog. We are especially pleased with boiler sales which improved by 138.9% and 76.5% for the nine and three month periods, respectively, of fiscal 2011 over the same periods of fiscal 2010.” He noted that the increase in boiler sales resulted from a new line of boilers introduced by the Company in late fiscal 2009.

EnviroStar, Inc., through its subsidiaries is one of the nation’s leading distributors of industrial laundry, dry cleaning machines 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
 
 
 
Nine months ended Three months ended
March 31, March 31,
2011 2010 2011 2010
 
Revenues $ 14,882,829 $ 13,844,574 $ 4,764,570 $ 4,094,643
 

 

Income before income taxes
493,783 349,920 147,477 106,740
Provision for income taxes     187,876     133,548     55,636     40,561
 
Net earnings $ 305,907 $ 216,372 $ 91,841 $ 66,179
 
Basic and diluted
earnings per share $ .04 $ .03 $ .01 $ .01
 
 
Weighted average shares
outstanding:
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
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,527.73 -115.28 -0.69%
S&P 500 1,974.90 -13.97 -0.70%
NASDAQ 4,800.5650 -27.76 -0.57%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs