-----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, HvQ2UzVYRN3nkDhzzbjhj6gnT/iATZzkB7PLrCdncARNoA9qdz524ojSigwKmQQ/ kBWdReZsiIJ6QIGtiu+W/Q== 0000910680-05-000598.txt : 20050930 0000910680-05-000598.hdr.sgml : 20050930 20050930140224 ACCESSION NUMBER: 0000910680-05-000598 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20050930 ITEM INFORMATION: Results of Operations and Financial Condition ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20050930 DATE AS OF CHANGE: 20050930 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: 051113663 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-09302005.txt SEPTEMBER 30, 2005 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, 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, other than the portions thereof announcing the declaration of a semi-annual dividend, 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 September 26, 2005, the Company issued a press release (the "Press Release") announcing, among other things, its results of operations for the Company's fiscal year ended June 30, 2005. A copy of the Press Release (other than the portion thereof announcing the declaration of a semi-annual dividend, which portion shall be deemed filed) is furnished as Exhibit 99.1 to this Report and is incorporated herein by reference. Item 8.01 Other Events. - --------- ------------- The Press Release also announced that the Company's Board of Directors had declared a $.04 per share semi-annual dividend, payable on November 1, 2005 to shareholders of record on October 14, 2005. This semi-annual dividend will be an increase over the previous semi-annual dividend at $.035 per share paid on May 2, 2005. 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 September 26, 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: September 30, 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 September 26, 2005. EX-99 2 exhibit99-1.txt 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 Year End Results Revenues And Earnings Increase Substantially In Fiscal 2005 Over Fiscal 2004 Company Increases Semi-Annual Dividend From $.035 to $.04 Per Share Miami, FL - September 26, 2005 - DRYCLEAN USA, Inc. (AMEX:DCU) today reported results of operations for the Company's year ended June 30, 2005. Revenues increased by 25.3% to $18,389,009 for fiscal 2005 from $14,672,265 in fiscal 2004. Net earnings increased 31.7% to $706,263 or $.10 per diluted share in fiscal 2005 from $536,217 or $.08 per diluted share in fiscal 2004. The Company also announced that its Board of Directors declared a $.04 per share semi-annual dividend, payable on November 1, 2005 to shareholders of record on October 14, 2005. Venerando J. Indelicato, Chief Financial Officer of DRYCLEAN USA, Inc., stated: "Fiscal 2005 was a very successful year with revenues and earnings increasing at double digit rates, mostly due to our expanded sales territory and increased sales staff." He also reported that cash flow continued to be strong enabling the Board of Directors to increase the semi-annual dividend to $.04 per share from the $.035 per share paid in May. Mr. Indelicato cautioned that Hurricane Katrina may affect the first quarter of fiscal 2006 due to shipping delays from one of the Company's major laundry equipment and spare parts suppliers located near New Orleans. "While the first quarter of fiscal 2006 may be skewed," he said, "results for the entire year should not be materially affected." DRYCLEAN USA, Inc., through its subsidiaries, is one of the nation's leading distributors of industrial laundry and dry cleaning equipment 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
For the year ended For the year ended June 30, 2005 June 30, 2004 ------------------ ------------------ Revenues $ 18,389,009 $ 14,672,265 Earnings before income taxes 1,134,309 853,627 Provision for income taxes 428,046 317,410 - --------------------------------------------------------------------------------------- Net earnings $ 706,263 $ 536,217 Basic and diluted earnings per share $ .10 $ .08 Weighted average shares outstanding: Basic 7,023,146 7,009,188 Diluted 7,037,921 7,032,060
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