DRYCLEAN USA Franchise News

MIAMI--(BUSINESS WIRE)--DRYCLEAN USA, Inc. (NYSE Amex:DCU) today reported results of operations for the Company's year ended June 30, 2009.

Revenues for fiscal 2009 increased to a record $23,155,417, an increase of 2.0% over last year's revenues of $22,705,143. Net earnings decreased by 12.5% to $526,863 or $.07 per diluted share for fiscal 2009, from $601,852 or $.09 per diluted share in fiscal 2008.

Venerando J. Indelicato, Chief Financial Officer of DRYCLEAN USA Inc., stated: "The Company managed to post record revenues in fiscal 2009, but the economic crisis affected operations during the fourth quarter, decreasing our profits for the year. Interest income was also substantially down despite higher outstanding average balances...

Miami--(BUSINESS WIRE)--DRYCLEAN USA, Inc. (AMEX:DCU) (listed New York Stock Exchange Alternext, formerly the American Stock Exchange, under the symbol "DCU") announced that it received a proposal today from members of the Steiner family, the principal stockholders of the Company, to acquire all of the outstanding shares of the Company's Common Stock. It is presently proposed that the transaction would be structured as a merger of the Company with a company to be owned by the Steiner family pursuant to which the public stockholders of the Company would receive $0.85 per share in cash, or an aggregate of approximately $2.55 million, for the approximately 3 million shares (approximately 43% of outstanding shares) of the Company's Common Stock not currently owned by the members of the Steiner family...

Company Reports Increased Revenues and Earnings for the First Quarter Miami--(BUSINESS WIRE)--DRYCLEAN USA, Inc. (AMEX:DCU) today reported increased operating results for the three month period ended September 30, 2008.

For the first three months of fiscal 2009, revenues increased 42.5% to $6,750,817 from $4,736,644 for the same period of last year. Net earnings increased 84.9% to $209,001 or $.03 per diluted share from $113,044 or $.02 per diluted share in the first quarter of fiscal 2008.

Venerando J. Indelicato, Chief Financial Officer of DRYCLEAN USA Inc., stated: "We are pleased with the Company's performance during the first quarter of fiscal 2009, having attained near record revenues and earnings. Although we operated on lower gross profit margins due to larger contracts, which historically carry lower margins, our overall profitability improved due to higher revenues...

MIAMI--(BUSINESS WIRE)--DRYCLEAN USA, Inc. (AMEX:DCU) today reported results of operations for the Company's year ended June 30, 2008.

Revenues for fiscal 2008 were $22,705,143, and were basically flat when compared to revenues of $22,748,527 in fiscal 2007. Net earnings decreased by 31.7% to $601,852 or $.09 per diluted share for fiscal 2008, from $880,990 or $.13 per diluted share in fiscal 2007.

Venerando J. Indelicato, Chief Financial Officer of DRYCLEAN USA, Inc., stated: "Although the Company experienced a reduction in revenues during the first three quarters of fiscal 2008 due to a slowing economy, we were able to ship some of our accumulated backlog and have a record fourth quarter. Unfortunately earnings in fiscal 2008 did not keep pace with fiscal 2007 mostly due to costs associated with the restructuring of our administration and sales staff and increased payroll expenses...

MIAMI--(BUSINESS WIRE)--DRYCLEAN USA, Inc. (AMEX:DCU) today reported results of operations for the nine and three month periods ended March 31, 2008. Revenues for the nine months decreased to $15,075,712 from $17,436,944 from the same period of fiscal 2007. Net earnings decreased to $368,228 or $.05 per diluted share compared to net earnings of $653,086 or $.09 per diluted share for the same period of fiscal 2007.

For the third quarter of fiscal 2008, revenues decreased to $4,694,188 from $5,181,944 in the comparable period of fiscal 2007. Net earnings for the quarter decreased to $75,918 or $.01 per diluted share compared to net earnings of $223,128 or $.03 per diluted share for the same period of fiscal 2007.

Venerando J...

MIAMI--(BUSINESS WIRE)--DRYCLEAN USA, Inc. (AMEX:DCU) today reported revenues and earnings for the six and three month periods ended December 31, 2007. For the first six months of fiscal 2008, the Company's revenues decreased by 15.3% to $10,381,524 from $12,255,000 for the same period of fiscal 2007. Net earnings decreased by 32.0% to $292,310 or $.04 per diluted share compared to net earnings of $429,958 or $.06 per diluted share for the same period of fiscal 2007.

For the second quarter of fiscal 2008, revenues decreased by 11.0% to $5,644,880 from $6,342,802 in the comparable period of fiscal 2007. Net earnings for the period decreased by 26.3% to $179,266 or $.03 per diluted share compared to $243,179 or $.03 per diluted share for the second quarter of fiscal 2007...