Coinmach Laundry announces first fiscal quarter results: EBITDA increases 13%.NEW YORK--(BUSINESS WIRE)--Aug. 12, 1996--Coinmach Laundry 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 28, 1996. 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 (earnings before deductions for interest, income taxes, depreciation and amortization) was approximately $14.3 million for the quarter ended June 28, 1996, compared to approximately $12.7 million for the corresponding period in 1995, representing an improvement of approximately 13%. EBITDA margins improved to approximately 30% for the quarter ended June 28, 1996, compared to approximately 27% for the corresponding period in 1995. During the quarter ended June 28, 1996, the company completed and fully integrated into its operating system operating system (OS) Software that controls the operation of a computer, directs the input and output of data, keeps track of files, and controls the processing of computer programs. an acquisition of approximately 24,000 machines. The acquisition, which provides the company with a significant presence in the Midwest, demonstrates the company's ability to successfully penetrate new market areas. The midwest acquisition, combined with other growth in the company's existing areas of operations, increased the company's machine base by approximately 26,300 machines. This growth represents the first period in which the company has grown significantly since its merger with Solon Solon, Athenian statesman Solon (sō`lən), c.639–c.559 B.C., Athenian statesman, lawgiver, and reformer. He was also a poet, and some of his patriotic verse in the Ionic dialect is extant. At some time (perhaps c.600 B.C. Automated Services Inc. last November. Stephen Kerrigan, the company's chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , said "These results represent a successful, marked improvement since we assumed the management of Solon. The earnings and machine base growth are a significant turnaround from the results experienced in past periods. Our current pipeline of signed new business and acquisition opportunities should continue the marked improvement reflected in these results." Coinmach Laundry is a leading provider of coin-operated laundry equipment services for multi-family properties. The company owns and operates approximately 245,000 coin-operated washers and dryers on routes in over 26,000 locations in 28 states and 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). . The company is also a distributor of laundromat equipment and turnkey See turnkey system. laundromat stores. CONTACT: Coinmach Laundry Corporation Robert M. Doyle, 516/484-2300 |
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