Announces Special Dividend
MIAMI -- (Business Wire)
EnviroStar, Inc. (NYSE MKT:EVI) today reported operating results for the
first three months of fiscal 2013.
For the three month period ended September 30, 2012, revenues increased
by 3.3% to $6,513,114 from $6,307,871 for the same period of last year.
However, net earnings decreased by 35.1% to $151,839 or $.02 per share
during the first quarter of fiscal 2013 compared to $233,498 or $.03 per
share during the first quarter of fiscal 2012.
The Company also announced that its Board of Directors has declared a
$.60 per share special dividend, payable on December 12, 2012 to
shareholders of record on November 28, 2012. For material special
dividends, the rules of the New York Stock Exchange require the
ex-dividend date to be one business day after the payment date.
Accordingly, the ex-dividend date has been set for December 13, 2012.
Venerando J. Indelicato, Chief Financial Officer of EnviroStar, Inc.,
stated: “As expected, product mix impacted margins during the first
quarter of fiscal 2013 causing a decrease in net earnings for the
period, however, the Company has a substantial backlog scheduled for
shipment during fiscal 2013, which should significantly improve the
Company’s performance for the year. In addition, the positive cash flow
over the last few years has enabled the Company to establish high levels
of cash. As a result, the Board of Directors, taking into consideration
present tax policies, has declared a special dividend in order to return
value to our shareholders.”
EnviroStar, Inc. through its subsidiaries is one of the nation’s leading
distributors of commercial and industrial laundry and 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 these
factors are discussed in Company reports filed with the Securities and
Exchange Commission.
EnviroStar, Inc.
EnviroStar, Inc. (NYSE MKT: EVI)
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Three months ended September 30,
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2012
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2011
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(Unaudited)
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(Unaudited)
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Revenues
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$
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6,513,114
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$
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6,307,871
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Earnings before income taxes
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247,023
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376,282
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Provision for income taxes
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95,184
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142,784
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Net earnings
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$
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151,839
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$
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233,498
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Basic and diluted earnings per share
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$
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0.02
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$
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0.03
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Weighted average shares outstanding:
Basic and diluted
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7,033,732
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7,033,732
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Contacts:
EnviroStar, Inc.
Michael Steiner, 305-754-4551
Venerando
Indelicato, 813-814-0722
Source: EnviroStar, Inc.