Dryclean USA News

DryClean USA, Inc. Announces Third Quarter Results
< United States >

June 15th, 2006
DryClean USA, Inc (AMEX:DCU) today reported improved operating results for both the nine and three month periods ended March 31, 2006.

Revenues increased 3.4% for the first nine months of fiscal 2006 to $14,389,739 from $13,916,135 for the same period of last year. Net earnings increased 14.7% to $610,813 or $.09 per diluted share for the first nine months of fiscal 2006 from $532,648 or $.08 per diluted share for the same period of fiscal 2005.

For the third quarter of fiscal 2006, revenues increased by 27.8% to $5,697,793 from $4,459,045 in the third quarter of last year. Net income for the fiscal 2006 three month period increased 44.4% to $229,606 or $.03 per diluted share from $159,046 or $.02 per diluted share from the third quarter of fiscal 2005.

Venerando J. Indelicato, Chief Financial Officer of DRYCLEAN USA, Inc., stated: "We are getting past the shipment delays which occurred during the first six months of fiscal 2006 caused by hurricanes Katrina and Wilma. The delayed shipments, mostly in laundry equipment, have largely caught up in the third quarter as shown by the substantial increase in sales in the quarter." Mr. Indelicato also indicated that the Company expected continued improvement for the fourth quarter.

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