Dryclean USA Revenues Grow in Second Quarter

Jason Hicks |

MIAMI — Dryclean USA Inc. reports that its revenues and earnings for the three- and six-month periods ending Dec. 31, 2008, grew.
For the three-month period — Dryclean USA’s second quarter of fiscal 2009 — revenues increased 10.1% to $6.2 million,  from $5.6 million in second-quarter 2008. Net earnings for the period increased 25.9% to $225,690 ($.03 per diluted share), compared to $179,266 ($.03 per diluted share) in 2008.
For the first six months of fiscal 2009, revenues increased 24.9% to a record of almost $13.0 million, up from $10.4 million for the same period of fiscal 2008. Net earnings increased 48.7% to $434,691 ($.06 per diluted share) compared to net earnings of $292,310 ($.04 per diluted share) in fiscal 2008.
“We are pleased to report record revenues and increased profits for the first half of fiscal 2009,” says Venerando J. Indelicato, chief financial officer of Dryclean USA. “Profit mix and order size caused our gross profit margins to decrease slightly; however, sales volume more than compensated for the difference.”
 

About the author

Jason Hicks

American Drycleaner

Jason Hicks was assistant editor for American Trade Magazines, which publishes American Coin-Op, American Drycleaner and American Laundry News, for more than nine years, and web editor for three years.

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