-----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, MuXLUdHykG2FjMHGoHJCDZd39VFA1IoExbb7pgI3E3WCOTicBygo8Bhpsm7lShap JwzqU91h2pId9+Hzv3+0vQ== 0000910680-05-000141.txt : 20050215 0000910680-05-000141.hdr.sgml : 20050215 20050215170643 ACCESSION NUMBER: 0000910680-05-000141 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20050215 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20050215 DATE AS OF CHANGE: 20050215 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: 05618057 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 f8k021505.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): February 15, 2005 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 February 15, 2005, the Company issued a press release announcing, among other things, its results of operations for the Company's second fiscal quarter and first half of fiscal 2005, ended December 31, 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 February 15, 2005. 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 15, 2005 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 February 15, 2005. EX-99 2 ex99_1-f8k021505.txt 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 RELEASE AT 9:AM ON FEBRUARY 15, 2005 DRYCLEAN USA, Inc. Announces Second Quarter Results Significant Revenues And Earnings Increases, Reported Miami, FL - February 15, 2005 - DRYCLEAN USA, Inc. (AMEX:DCU) today reported improved operating results for both the six and three month periods ended December 31, 2004. Revenues increased 26.0% for the first half of fiscal 2005 to $9,374,794 compared to $7,441,172 for the same period of last year. Net earnings increased 33.8% to $373,601 or $.05 per diluted share for the first six months of fiscal 2005, from $279,247 or $.04 per diluted share for the same period of fiscal 2004. For the second quarter of 2005, revenues increased by 24.2% to $5,142,223 compared to $4,141,311 for the second quarter of last year. Net income for the fiscal 2005 three month period increased 33.1% to $261,063 or $.04 per diluted share from $196,088 or $.03 per diluted share from the second quarter of fiscal 2004. Venerando J. Indelicato, Chief Financial Officer of DRYCLEAN USA, Inc., stated: "Sales in our recently expanded territory for laundry equipment are developing as planned and have significantly contributed to the improved operating results. We expect this improvement to continue for the balance of fiscal 2005." He continued, "results for the reported periods do not include the monies we recently received under our licensing agreement with Whirlpool Corporation, which will impact positively the third quarter of fiscal 2005." 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
Six months ended Three months ended December 31, December 31, ------------------------ ------------------------ 2005 2004 2005 2004 ---------- ---------- ---------- ---------- Revenues $9,374,794 $7,441,172 $5,142,223 $4,141,311 Earnings before income taxes 622,669 465,412 435,106 326,813 Provision for income taxes 249,068 186,165 174,043 130,725 ---------- ---------- ---------- ---------- Net earnings $ 373,601 $ 279,247 $ 261,063 $ 196,088 Basic and diluted earnings per share $ .05 $ .04 $ .04 $ .03 Weighted average shares outstanding: Basic 7,021,841 7,003,983 7,024,450 7,011,515 Diluted 7,034,554 7,035,662 7,037,722 7,074,872
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