Coinmach Laundry Announces First Fiscal Quarter Results.ROSLYN Roslyn Roslyn may refer to: In places:
Before industrialization Corp. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on National Market Symbol: WDRY) announced today its results for the first fiscal quarter ended June June: see month. 27, 1997. EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become from operations (excludes non-cash stock based compensation charges) increased by approximately 56% or $8.1 million to $22.4 million as compared to the prior year's corresponding period. Revenues improved by 50% to $72.1 million for the current quarter from $47.9 million for the prior year's corresponding period. At June 27, 1997, Coinmach operated over 390,000 machines, a 60% increase from June 1996. Today the company operates over 414,000 machines. These results include the operations of Reliable Laundry since it was acquired on April 23, 1997, and exclude any effect of the National acquisition completed on July July: see month. 17, 1997. During the current quarter, the company spent approximately $8.7 million in capital expenditures for the installed base as leases were renewed or existing sites upgraded, and $3.9 million for internal growth. In addition, the company spent approximately $47.6 million for acquisitions, including Reliable Laundry. The company's results for the first quarter of fiscal 1998 are the product of the continued implementation of its strategy of industry consolidation and internal growth. On a combined historical basis for the last twelve months, including Reliable and National, the company's EBITDA was approximately $94.8 million. The company's EBITDA for its base business improved internally by approximately 6%. Coinmach Laundry Corp. is the leading provider of coin-operated Adj. 1. coin-operated - of devices that do not operate without the prior insertion of one or more coins; "a coin-operated telephone" coin-operated adj [machine] → que funciona con monedas laundry equipment services for multi-family properties. The company currently owns and operates approximately 414,000 coin-operated washers and dryers in over 40,000 locations in 31 states, the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). and Mexico Mexico, city, Mexico Mexico or Mexico City, Span. Ciudad de México (Méjico), city (1990 pop. 8,236,960; 1991 met. area est. 20,899,000), central Mexico, capital and largest city of Mexico. . -0-
Coinmach Laundry Corp.
Operating Results
Three Months Ended June 27, 1997
(Dollars in thousands, except per share amounts)
Three Months Ended
June 27, June 28,
1997 1996
Revenues $72,095 $47,940
EBITDA 22,225 14,319
EBITDA margin 30.8% 29.9%
Depreciation and
amortization(a) 16,475 9,810
Operating income 5,750 4,509
Interest expense, net 10,063 6,141
Loss before income taxes (4,313) (1,632)
Benefit from income taxes (800) (400)
Net loss $(3,513) $(1,232)
Net loss per share: $ (.34) $ (.16)
Average common shares
outstanding 10,484,926 7,774,017
EBITDA $22,225 $14,319
Add: non cash stock
compensation in 1997 145 --
EBITDA from operations 22,370 14,319
EBITDA margin 31.0% 29.9%
Maintenance capital
expenditures 8,685 6,482
Adjusted EBITDA from operations $13,685 $ 7,837
EBITDA from operations
per common share $ 2.13 $ 1.84
Total assets $536,318 $250,276
Debt $403,118 $208,661
(a) Includes non-cash purchase accounting related depreciation and
amortization of approximately $8,722 and $5,844 for the three months
ended June 27, 1997 and June 28, 1996, respectively.
CONTACT: Coinmach Laundry Corp., Roslyn Robert Robert, Henry Martyn 1837-1923. American army engineer and parliamentary authority. He designed the defenses for Washington, D.C., during the Civil War and later wrote Robert's Rules of Order (1876). Noun 1. M. Doyle, 516/484-2300 |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion