EnviroStar, Inc.  Announces Second Quarter Results

EnviroStar, Inc., (NYSE MKT: EVI), today reported revenues and earnings for the six and three month periods ended December 31, 2012. For the first six months of fiscal 2013, revenues increased by 14.8% to $12,958,823 from $11,290,121 for the same period of fiscal 2012. Net earnings increased by 11.3% to $276,994 or $.04 per share compared to net income of $248,894 or $.04 per share for the same period of fiscal 2012.

For the second quarter of fiscal 2013, revenues increased by 29.4% to $6,445,709 from $4,982,250 in the comparable period of fiscal 2012. Net earnings for the period increased by 712.9% to $125,155 or $.02 per share compared to $15,396 or $.01 per share for the second quarter of fiscal 2012.

Venerando J. Indelicato, Chief Financial Officer of EnviroStar Inc., stated, “While we are pleased with the Company’s performance for the six and three month periods of fiscal 2013, the Company has experienced some slight delays in a few of the scheduled shipments from our historically high backlog. These shipments which were scheduled for the second quarter have been rescheduled to ship in the third and fourth quarters of fiscal 2013.” He also indicated that these delays are normal and often occur when dealing with building permits and construction.

EnviroStar, Inc. through its subsidiaries is one of the nation’s leading distributors of industrial laundry, dry cleaning equipment and steam boilers.

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 MKT:EVI)

Summary Unaudited Consolidated Statements of Income
 

 
 

Six months ended
   

Three months ended

December 31,

December 31,

2012
   

2011

2012
   

2011
 
Revenues $ 12,958,823 $ 11,290,121 $ 6,445,709 $ 4,982,250
 
Earnings before income
taxes 449,039 403,560 202,016 27,278
Provision for income taxes     172,045       154,666       76.861       11,882
 
Net earnings $ 276,994 $ 248,894 $ 125,155 $ 15,396
 
Basic and diluted
earnings per share $ .04 $ .04 $ .02 $ .01
 
 
Weighted average shares
outstanding:
Basic and diluted 7,033,732 7,033,732 7,033,732 7,033,732

Copyright Business Wire 2010

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