-----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, CQHplWAWNmeBR0okp5ZRZl6HOwd8VDsWAb+OHXJ6oOXrvpEK03IJ+qyoRWu2vmf3 Mz0EmnOt0bdyNHc0p9zpYQ== 0000910680-03-000841.txt : 20030929 0000910680-03-000841.hdr.sgml : 20030929 20030929172233 ACCESSION NUMBER: 0000910680-03-000841 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030926 ITEM INFORMATION: FILED AS OF DATE: 20030929 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: 03915749 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 f8k092603.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): SEPTEMBER 26, 2003 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. Regulation FD Disclosure (Information is Being Provided Under Item 12). - -------- ----------------------------------------------------------------------- On September 26, 2003, the Company issued a press release announcing its results of operations for its 2003 fiscal year, ended June 30, 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: September 29, 2003 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 September 26, 2003. 3 EX-99 3 ex99_1092603.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. ANNOUNCES YEAR END RESULTS - ---------------------------------------------- BOARD OF DIRECTORS DECLARES AN ANNUAL DIVIDEND - ---------------------------------------------- Miami, FL - September 26, 2003 - DRYCLEAN USA, Inc. (AMEX:DCU), today reported results of operations for its fiscal year ended June 30, 2003. Net earnings from continuing operations for fiscal 2003 increased by 13.8% to $546,134 or $.08 per diluted share on revenues of $14,317,448, compared to net earnings from continuing operations of $479,978 or $.07 per diluted share on revenues of $14,288,504 for fiscal 2002. Net earnings for fiscal 2003 was $603,793 or $.09 per share, including a net gain on the settlement of liabilities associated with discontinued operations of $57,659. In fiscal 2002 the Company reported a net loss of $280,010 or $.04 per diluted share after giving effect to a net loss of $204,992 in the year from discontinued operations and a net loss of $554,996 on the disposal of discontinued operations. The Company's Board of Directors, at its September 26, 2003 meeting, declared a $.05 per share annual dividend payable on October 31, 2003 to shareholders of record on October 17, 2003. Venerando J. Indelicato, Chief Financial Officer of DRYCLEAN USA, Inc., stated, "This dividend, which is our first in many years, reflects the strong financial position of the Company, and the Board's desire to disburse extra cash to its shareholders, especially in light of the new favorable tax rates on dividends." He also indicated that, "all our operating segments and divisions were profitable in fiscal 2003 and are expected to further improve in fiscal 2004." DRYCLEAN USA, Inc. is one of the largest franchise and license operations in the dry cleaning industry, currently consisting of over 400 franchised and licensed 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. (AMEX:DCU) CONSOLIDATED STATEMENTS OF OPERATIONS
Year Ended Year Ended June 30, 2003 June 30, 2002 ------------ ------------ Revenues $ 14,317,448 $ 14,288,504 Earnings from continuing operations 880,223 775,027 Provision for income taxes 334,089 295,079 ------------ ------------ Net earnings from continuing operations 546,134 479,978 Income (loss), net of income taxes, from: Discontinued operations (204,992) Disposal of discontinued operations 57,659 (554,996) ------------ ------------ Net earnings (loss) $ 603,793 $ (280,010) Basic and diluted earnings per share: Continuing operations $ .08 $ .07 Discontinued operations $ .01 $ (.11) Net earnings (loss) $ .09 $ (.04) Weighted average shares outstanding: Basic 6,996,450 6,996,813 Diluted 6,996,450 6,997,342
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