-----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, Um+fe0kABz8VefuB7Z+usRZlykmDYjItATS0ZCCUIq8C6s4zvpmNjrIyfEFemK1J IUiE/o+okjBQh4kDNPS5ZA== 0000910680-08-000768.txt : 20081114 0000910680-08-000768.hdr.sgml : 20081114 20081114130757 ACCESSION NUMBER: 0000910680-08-000768 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20081114 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20081114 DATE AS OF CHANGE: 20081114 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DRYCLEAN USA INC CENTRAL INDEX KEY: 0000065312 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-PERSONAL SERVICES [7200] 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: 081189050 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 f8k11142008.htm FORM 8-K

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): November 14, 2008

 

 

 

DRYCLEAN USA, Inc.

(Exact name of registrant as specified in its charter)

 

 

Delaware

(State or other jurisdiction of incorporation)

 

 

 

1-14757

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)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

o

 Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o

 Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o

 Pre-commencement communication pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o

 Pre-commencement communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 

 


 

 

Item 2.02, including Exhibit 99.1 and the information therefrom incorporated herein by reference are being furnished, and shall not be deemed "filed," for purposes of Section 18 of the Securities and Exchange Act of 1934, as amended, or otherwise subject to liability under that section, nor shall they be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing.

 

Item 2.02

Results of Operations and Financial Condition.

 

On November 14, 2008, the Company issued a press release announcing its results of operations for the three month period ended September 30, 2008. A copy of the press release is furnished as Exhibit 99.1 to this Report and is incorporated herein by reference.

 

Item 9.01

Financial Statements and Exhibits.

 

 

(d)

Exhibits:

 

 

99.1

The Company’s press release dated November 14, 2008.

 

 

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:November 14, 2008 By:   /s/ Venerando J. Indelicato

 

        Venerando J. Indelicato,
        Treasurer and Chief Financial Officer


 

 

2

 

 


 

 

EXHIBIT INDEX

 

 

 

Exhibit No.

Description

 

EX-99 2 ex99_1-f8k11142008.htm

Exhibit 99.1

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. Announces First Quarter Results

 

Company Reports Increased Revenues and Earnings for the First Quarter

 

Miami, FL – November 14, 2008 – DRYCLEAN USA, Inc. (AMEX:DCU) today reported increased operating results for the three month period ended September 30, 2008.

 

For the first three months of fiscal 2009, revenues increased 42.5% to $6,750,817 from $4,736,644 for the same period of last year. Net earnings increased 84.9% to $209,001 or $.03 per diluted share from $113,044 or $.02 per diluted share in the first quarter of fiscal 2008.

 

Venerando J. Indelicato, Chief Financial Officer of DRYCLEAN USA Inc., stated: “We are pleased with the Company’s performance during the first quarter of fiscal 2009, having attained near record revenues and earnings. Although we operated on lower gross profit margins due to larger contracts, which historically carry lower margins, our overall profitability improved due to higher revenues. The Company will continue its efforts to aggressively increase its market share during these recessionary times even though existing projects have become more competitive.”

 

DRYCLEAN USA, Inc. through its subsidiaries is one of the nation’s leading distributors of industrial laundry, dry cleaning machines and steam boilers. Its subsidiary, DRYCLEAN USA License Corp, is one of the largest franchise and license operations in the dry cleaning industry, in the United States, the Caribbean and Latin America.

 

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.

 

 

 

 

 

 

 

 

4

 

 

 


 

DRYCLEAN USA, Inc. and Subsidiaries

 

DRYCLEAN USA, Inc. and Subsidiaries   (AMEX:DCU)

Summary Unaudited Consolidated Statements of Income

 

 

 

 

 

 

 

 

Three months ended
September 30.

 

 

 

   2008

 

 2007

 

 

 

  (Unaudited)

 

  (Unaudited)

 

 

 

 

 

 

 

 

 

Revenues

 

$

6,750,817

 

$

4,736,644

 

 

 

 

 

 

 

 

 

Earnings before income taxes

 

 

329,986

 

 

176,572

 

Provision for income taxes

 

 

120,985

 

 

63,528

 

 

 

 

 

 

 

 

 

Net earnings

 

$

209,001

 

$

113,044

 

 

 

 

 

 

 

 

 

Basic and diluted

 

 

 

 

 

 

 

earnings per share

 

$

.03

 

$

.02

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted average shares

 

 

 

 

 

 

 

outstanding:

 

 

 

 

 

 

 

Basic

 

 

7,033,875

 

 

7,034,307

 

Diluted

 

 

7,033,875

 

 

7,037,585

 



 

 

 

 

 

 

 

5

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