-----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, HtkBy4nrgNFZuk0J9BAcfvxE1O/l4QuukqGPfnFxRro0Mxm8uKhVS4U72xw/h9D5 Dmxw/MTjFjNr5GAv8CWfRg== 0000910680-04-001208.txt : 20041116 0000910680-04-001208.hdr.sgml : 20041116 20041116155131 ACCESSION NUMBER: 0000910680-04-001208 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20041112 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20041116 DATE AS OF CHANGE: 20041116 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: 041149572 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 f8k-11122004.txt NOVEMBER 12, 2004 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 12, 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) 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: [ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) [ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) [ ] Pre-commencement communication pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) [ ] 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 12, 2004, the Company issued a press release announcing, among other things, its results of operations for the Company's three month period ended September 30, 2004. 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. - --------- ---------------------------------- (a) Financial Statements of Businesses Acquired: None (b) Pro Forma Financial Information: None (c) Exhibits: 99.1 The Company's press release dated November 12, 2004. 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 16, 2004 By: /s/ Venerando J. Indelicato ------------------------------------- Venerando J. Indelicato, Treasurer and Chief Financial Officer EXHIBIT INDEX Exhibit No. Description - ----------- --------------------------------------------------- 99.1 The Company's press release dated November 12, 2004. EX-99 2 ex99_f8k-11122004.txt 99.1 , NOVEMBER 12, 2004 PRESS RELEASE 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 - -------------------------------------------------- Revenues And Earnings Increase For The First Three Months - --------------------------------------------------------- Miami, FL - November 12, 2004 - DRYCLEAN USA, Inc. (AMEX:DCU) today reported improved operating results for the three month period ended September 30, 2004. Revenues increased 28.3% for the first three months of fiscal 2005 to $4,232,571 from $3,299,861 for the same period of last year. Pre-tax earnings were $187,563, an increase of 35.3%. Net earnings, after a $75,025 provision for income taxes were $112,538 or $.02 per diluted share. This compares to pre-tax earnings of $138,599, which resulted in net earnings of $83,159 or $.01 per diluted share, after income taxes of $55,440 for the three month period ended September 30, 2003. Venerando J. Indelicato, Chief Financial Officer of DRYCLEAN USA, Inc., stated: "As previously reported, in July, we obtained an expansion of the territory in which we act as distributor for certain laundry products from Southeast Florida to most of Florida. This was the first full quarter that the Company operated under the expanded territory and with an increased sales staff. The results were gratifying. While expenses were somewhat higher with the increased overhead, the overall increase in sales enabled the Company to achieve a higher level of profit." Mr. Indelicato continued, "As we noted before, for a small company such as ours, quarterly comparisons can be less meaningful than full year results. However, with the improving economy and the expanded sales staff, we expect improvements for the year." 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, currently consisting of over 400 franchised and license stores 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. ================================================================================ DRYCLEAN USA, Inc. DRYCLEAN USA, Inc. (AMEX:DCU) Summary Consolidated Statements of Income Three months ended Three months ended September 30, 2004 September 30, 2003 Revenues $4,232,571 $3,299,861 Earnings before taxes 187,563 138,599 Provision for income taxes 75,025 55,440 ---------- ---------- Net earnings $ 112,538 $ 83,159 Basic and diluted earnings per share $ .02 $ .01 Weighted average shares outstanding Basic 7,019,232 6,996,450 Diluted 7,031,385 6,996,450 -----END PRIVACY-ENHANCED MESSAGE-----