-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, NzXbS98JZ9dZGDBrzPI2cPxrVO/aCSsTgtN9pRIdzBn/edgOltP7vI/Wa+rZMGlG 99xobOc3jZgLYbv5DUnFJw== 0000910680-04-000245.txt : 20040217 0000910680-04-000245.hdr.sgml : 20040216 20040217144142 ACCESSION NUMBER: 0000910680-04-000245 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20040213 ITEM INFORMATION: FILED AS OF DATE: 20040217 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DRYCLEAN USA INC CENTRAL INDEX KEY: 0000065312 STANDARD INDUSTRIAL CLASSIFICATION: TELEPHONE & TELEGRAPH APPARATUS [3661] IRS NUMBER: 112014231 STATE OF INCORPORATION: DE FISCAL YEAR END: 0630 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-14757 FILM NUMBER: 04607433 BUSINESS ADDRESS: STREET 1: 290 NE 68 STREET CITY: MIAMI STATE: FL ZIP: 33138 BUSINESS PHONE: 3057544551 MAIL ADDRESS: STREET 1: 290 NE 68 STREET CITY: MIAMI STATE: FL ZIP: 33138 FORMER COMPANY: FORMER CONFORMED NAME: METRO TEL CORP DATE OF NAME CHANGE: 19920703 8-K 1 f8k021304.txt CURRENT REPORT SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): February 13, 2004 DRYCLEAN USA, Inc. ------------------ (Exact name of registrant as specified in its charter) Delaware -------- (State or other jurisdiction of incorporation) 0-9040 11-2014231 ------ ---------- (Commission File Number) (IRS Employer Identification No.) 290 N.E. 68 Street, Miami, Florida 33138 ---------------------------------------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (305) 754-4551 Not Applicable -------------- (Former name or former address, if changed since last report) Item 12. Results of Operations and Financial Condition - ------- --------------------------------------------- On February 13, 2004, the Company issued a press release announcing its results of operations for the three and six months ended December 31, 2003. A copy of the press release is attached as Exhibit 99.1 and is incorporated herein by reference. The information in this Form 8-K, including the Exhibit attached hereto, shall not be deemed "filed" for purposes of Section 18 of the Securities Act of 1934, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, except as expressly set forth by specific reference in such filing. SIGNATURE --------- Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. DRYCLEAN USA, Inc. Date: February 13, 2004 By: /s/ Venerando J. Indelicato --------------------------- Venerando J. Indelicato, Treasurer and Chief Financial Officer 2 EXHIBIT INDEX Exhibit Number Description - ------ ----------- 99.01 DRYCLEAN USA, Inc.'s Press Release dated February 13, 2004. 3 EX-99 3 ex99_01021304.txt PRESS RELEASE Exhibit 99.01 From: DRYCLEAN USA. Inc. 290 NE 68 Street Miami, FL 33138 Michael Steiner (305) 754-4551 Venerando Indelicato (813) 814-0722 FOR IMMEDIATE RELEASE DRYCLEAN USA, Inc. Reports Increased Fiscal 2004 Second Quarter and First Half - ------------------------------------------------------------------------------ Results - ------- Miami, FL - February 13, 2004. DRYCLEAN USA, Inc. (AMEX:DCU), today reported improved operating results for both the six and three month periods ended December 31, 2003. Revenues for the six month period ended December 31, 2003 were $7,441,172 compared to $7,281,638 from the same period of a year ago. Net income increased 22.4% to $279,247, or $.04 per diluted share, for the six month period of fiscal 2004, from $228,130, or $.03 per diluted share, for the same period of fiscal 2003. For the second quarter of fiscal 2004, revenues increased by 19.4% to $4,141,311 from $3,469,965 for the second quarter of last year. Net income for the three-month period increased to $196,088, or $.03 per diluted share in fiscal 2004 from $44,742, or $.01 per diluted share for the same fiscal 2003 period. Venerando J. Indelicato, Chief Financial Officer of DRYCLEAN USA, Inc, stated: " We are gratified to see a substantial improvement in earnings for the six month period, over the same period of last year. Improved margins coupled with reduced selling and administrative expenses provided the Company with a 42.9% increase in operating income". He also reported, "Due to customer site construction delays some shipments scheduled for the first quarter were shipped in the second quarter. Therefore, it is more meaningful to analyze operating results for the full six-month period rather than by quarter." DRYCLEAN USA, Inc. is one of the largest franchise and license operations in the dry cleaning industry, currently consisting of over 400 franchised and license stores in the United States, the Caribbean and Latin America. Founded in 1960, its dry cleaning and laundry machinery division is also one of the nation's leading distributors of industrial laundry, dry cleaning machines 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 such factors are discussed in Company reports filed with the Securities and Exchange Commission. ================================================================================ DRYCLEAN USA, Inc. DRYCLEAN USA, Inc. (AMEX:DCU) Consolidated Statements of Operations
Six months ended Three months ended December 31, December 31, ----------------------- ----------------------- 2003 2002 2003 2002 ---------- ---------- ---------- ---------- Revenues $7,441,172 $7,281,638 $4,141,311 $3,469,965 Net earnings from continuing operations 279,247 188,154 196,088 4,766 Net earnings from disposal of discontinued operations -- 39,976 -- 39,976 ========== ========== ========== ========== Net earnings $ 279,247 $ 228,130 $ 196,088 $ 44,742 Basic and diluted earnings per share: Continuing operations $ .04 $ .03 $ .03 $ .00 Discontinued operations $ -- $ .00 $ -- $ .01 Net earnings $ .04 $ .03 $ .03 $ .01 Weighted average shares outstanding: Basic 7,003,983 6,996,450 7,011,515 6,996,450 Diluted 7,035,662 6,996,450 7,074,872 6,996,450
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