-----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, V+Ru+wrHh9trD03i9ur/BOkbkuYJxjduTxFOz4BTJNrmAlP6d9IY5ow5qNLPwyf6 +tBC8Feh1hkhJD6qqkvDOQ== 0000910680-09-000085.txt : 20090217 0000910680-09-000085.hdr.sgml : 20090216 20090217103934 ACCESSION NUMBER: 0000910680-09-000085 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20090217 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20090217 DATE AS OF CHANGE: 20090217 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: 09608172 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 f8k02172009.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): February 17, 2009

 

DRYCLEAN USA, Inc.

(Exact name of registrant as specified in its charter)

 

 

Delaware

(State or other jurisdiction of incorporation)

 

 

001-14757

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 February 17, 2009, the Company issued a press release announcing its results of operations for the six and three month periods ended December 31, 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 February 17, 2009.

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 17, 2009  By: /s/ Venerando J. Indelicato
Venerando J. Indelicato
Treasurer and Chief Financial Officer


 

                  

 

 

 

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EXHIBIT INDEX

Exhibit No.     Description

99.1                The Company’s press release dated February 17, 2009.

 

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EX-99.1 2 ex99_1-f8k02172009.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 Second Quarter Results

Company Reports Record Revenues for the Six Month Period

Miami, FL – February 17, 2009, – DRYCLEAN USA, Inc. (NYSE ALTERNEXT: DCU) today reported revenues and earnings for the six and three month periods ended December 31, 2008. For the first six months of fiscal 2009, revenues increased by 24.9% to a record $12,964,465 from $10,381,524 for the same period of fiscal 2008. Net earnings increased by 48.7% to $434,691 or $.06 per diluted share compared to net earnings of $292,310 or $.04 per diluted share for the same period of fiscal 2008.

For the second quarter of fiscal 2009, revenues increased by 10.1% to $6,213,648 from $5,644,880 in the comparable period of fiscal 2008. Net earnings for the period increased by 25.9% to $225,690 or $.03 per diluted share compared to $179,266 or $.03 per diluted share for the second quarter of fiscal 2008.

Venerando J. Indelicato, Chief Financial Officer of DRYCLEAN USA Inc., stated that “We are pleased to report record revenues and increased profits for the first half of fiscal 2009. Profit mix and order size caused our gross profit margins to decrease slightly, however, sales volume more than compensated for the difference.” Mr. Indelicato also indicated that, as a result of the current state of the economy, many projects are finding it difficult to obtain financing; however, to date, the Company has been successful in securing its share of potential orders.

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 those factors are discussed in Company reports filed with the Securities and Exchange Commission.

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DRYCLEAN USA, Inc. and Subsidiaries

 

DRYCLEAN USA, Inc. and Subsidiaries (NYSE ALTERNET:DCU)
 
Summary Unaudited Consolidated Statements of Income
 

                      

Six months ended
December 31,

Three months ended
December 31,

2008

2007

2008

2007

 

Revenues

$

12,964,465

$

10,381,524

$

6,213,648

$

5,644,880

         

Earnings before income
     taxes

701,039

461,074

371,053

284,502

 

Provision for income taxes

266,348

168,764

145,363

105,236

         

Net earnings

$

434,691

$

292,310

$

225,690

$

179,266

         

Basic and diluted
     earnings per share

$

.06

$

.04

$

.03

$

.03

         
         

Weighted average shares 
     outstanding:

       

          Basic

7,033,875

7,034,307

7,033,875

7,034,307

          Diluted

7,033,875

7,037,472

7,033,875

7,037,333



 

 

 

 

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