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EnviroStar Announces Q2, First-Half Results

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Ian P. Murphy |

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.

About the author

Ian P. Murphy

American Drycleaner

Ian P. Murphy is a freelance writer based in Chicago, and was the editor of American Drycleaner from 1999 to 2011.

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