EnviroStar, Inc. Announces Year End Results
September 19 2016 - 9:00AM
Business Wire
EnviroStar, Inc. (NYSE MKT:EVI) today reported results for its
fiscal year ended June 30, 2016. Compared to fiscal year 2015:
Revenues increased 17.1% to $36.0 million from $30.8
million,
Operating income improved 4.2% to $2.79 million from $2.68
million,
Net income increased 4.1% to $1.74 million from $1.67 million,
and
Earnings per share increased 4.2% to $0.25 per share from $0.24
per share.
Henry M. Nahmad, Chairman and Chief Executive Officer of
EnviroStar, stated, “Our performance in 2016 reflects our team’s
ability to capitalize on organic opportunities by leveraging our
reputation for delivering quality products and exceptional service
at competitive prices. We look forward to what we believe will be a
successful year in fiscal 2017, including the anticipated closing
of our acquisition of Western State Design, LLC, which is expected
to result in increased revenue and profitability for our Company
across a wider geography.”
EnviroStar, Inc., through its subsidiaries, is one of the
nation’s leading distributors of commercial laundry and dry
cleaning products, and industrial boilers.
Safe Harbor Statement
Except for the historical matters contained herein, statements
in this press release are forward-looking and are made pursuant to
the safe harbor provisions of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements are subject to a
number of known and unknown risks and uncertainties that may cause
actual results, trends, performance or achievements of EnviroStar,
or industry trends and results, to differ from the future results,
trends, performance or achievements expressed or implied by such
forward-looking statements. These risks and uncertainties include,
among others, risks related to EnviroStar’s business, results
(including future revenues and earnings), financial condition,
growth strategy and prospects, and risks relating to EnviroStar’s
proposed acquisition of Western State Design, LLC, including that
the conditions, including financing condition, to closing the
transaction may not be satisfied and that the transaction may not
otherwise be consummated when expected, in accordance with the
contemplated terms, or at all, that the potential benefits of the
transaction may not be realized to the extent anticipated or at
all, integration risks, risks related to EnviroStar’s level of
indebtedness, and risks related to the business, operations and
prospects of Western State Design, LLC. Reference is also made to
other economic, competitive, governmental, technological, and other
risks and uncertainties discussed in EnviroStar’s filings with the
Securities and Exchange Commission, including, without limitation,
the risks and uncertainties described in the “Risk Factors” section
of, and elsewhere in, its Annual Report on Form 10-K. Many of these
risks and uncertainties are beyond EnviroStar’s control. In
addition, past performance and perceived trends may not be
indicative of future results. EnviroStar cautions that the
foregoing factors are not exclusive. The reader should not place
undue reliance on any forward-looking statement, which speaks only
as of the date made. EnviroStar does not undertake to, and
specifically disclaims any obligation to, update or supplement any
forward-looking statement, whether as a result of changes in
circumstances, new information, subsequent events or otherwise.
EnviroStar, Inc. and Subsidiaries (NYSE
MKT:EVI)
2016
2015
Revenues
$
36,015,641 $ 30,754,570 Operating income
2,790,921 2,678,445
Provision for income taxes 1,053,140 1,010,931 Net income
$ 1,740,040 $ 1,671,817
Basic and diluted earnings per share $ .25 $ .24 Weighted
average basic and diluted shares outstanding 7,033,732 7,033,732
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version on businesswire.com: http://www.businesswire.com/news/home/20160919005310/en/
EnviroStar, Inc.Henry M. Nahmad, 305-754-4551orVenerando
Indelicato, 813-814-0722
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