EnviroStar, Inc. Announces Second Quarter Results

MIAMI-- EnviroStar, Inc., (NYSE MKT: EVI), today reported operating results for the six and three month periods ended December 31, 2014. For the first six months of fiscal 2015, revenues decreased by 12.7% to $16,008,839 from $18,328,643 for the same period of fiscal 2014. Net earnings increased by 5.0% to $948,373 or $.13 per share compared to net income of $903,077 or $.13 per share for the same period of fiscal 2014.

For the second quarter of fiscal 2015, revenues decreased by 29.6% to $6,925,145 from $9,835,413 in the comparable period of fiscal 2014. Net earnings for the period increased by 1.5% to $484,412 or $.07 per share compared to $477,306 or $.07 per share for the second quarter of fiscal 2014.

Venerando J. Indelicato, Chief Financial Officer of EnviroStar Inc., stated, “We are pleased that our margins have improved for both periods enabling us to increase our earnings despite lower revenues, however, results of operations for interim periods are not necessarily indicative of results to be expected for a full year as interim periods are difficult to compare in our business.” He also stated that new orders continue to grow, increasing our backlog by over 20% at December 31, 2014 from June 30, 2014.

EnviroStar, Inc. through its subsidiaries is one of the nation’s leading distributors of industrial laundry, dry cleaning equipment 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 those factors are discussed in Company reports filed with the Securities and Exchange Commission.

EnviroStar, Inc. and Subsidiaries


EnviroStar, Inc. and Subsidiaries (NYSE MKT:EVI)


Summary Unaudited Consolidated Statements of Income

Six months ended Three months ended
December 31, December 31,
2014   2013 2014   2013
Revenues $ 16,008,839 $ 18,328,643 $ 6,925,145 $ 9,835,413
Earnings before income
taxes 1,521,951 1,451,490 777,895 767,084
Provision for income taxes     573,578     548,413     293,483     289,778
Net earnings $ 948,373 $ 903,077 $ 484,412 $ 477,306
Basic and diluted
earnings per share $ .13 $ .13 $ .07 $ .07
Weighted average shares
Basic and diluted 7,033,732 7,033,732 7,033,732 7,033,732

EnviroStar Inc.
Michael Steiner, 305-754-4551
Venerando Indelicato, 813-814-0722

Source: EnviroStar Inc.