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EnviroStar Announces Q2, First-Half Results

MIAMI — EnviroStar Inc. reported revenues and earnings this week for the three- and six-month periods ending December 31, 2010, its second quarter and first half of fiscal 2011.
For the second quarter, revenues fell 14.0% to $5.3 million, from $6.1 million in the comparable period of fiscal 2010. Net income decreased 62.9% to $82,114, or $.01 per share, compared to $221,171, or $.03 per share, in the second quarter of fiscal 2010.
For the first six months of fiscal 2011, results improved. Revenues increased 3.8% to $10.1 million, from $9.7 million in the same period of fiscal 2010. Net income increased 42.5% to $214,066 ($.03 per share) compared to net income of $150,273 ($.02 per share) for the same period of fiscal 2010.
“Quarterly results are not necessarily indicative of full-year results, as shipments are sometimes delayed due to a number of operating reasons,” says Venerando J. Indelicato, chief financial officer of EnviroStar. “Incoming orders have been trending higher, which is a good indication that the economy is improving.”
EnviroStar is one of the nation’s leading distributors of drycleaning and laundry equipment, and parent of Dryclean USA franchise and licensing operations.

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