Home Investor Relations Press Releases U.S. Dry Cleaning Tells Shareholders Acquisition Pipeline Has More than $100 Million in Annual Revenue Potential.
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U.S. Dry Cleaning Tells Shareholders Acquisition Pipeline Has More than $100 Million in Annual Revenue Potential.

Company Also Is Confident Top Line Revenue Growth for June 30 Quarter Will Show Triple Digit Growth and Substantial Increase in Cash on Company Balance Sheet at end of Quarter.

NEWPORT BEACH, Calif.--(BUSINESS WIRE)--U.S. Dry Cleaning Corporation (UDRY), the nation’s first consolidator of dry cleaning businesses, said in a letter to shareholders that the company is confident that revenue growth for the quarter ending June 30, 2008 should show a triple digit increase from the period a year ago and that “the balance sheet will show a substantial increase in cash.” The letter was sent to shareholders today to update them on the company’s progress during 2008. U.S. Dry Cleaning Corporation expects to report its quarterly results on or before August 14, 2008.

In the letter, Robbie Lee, CEO of U.S. Dry Cleaning Corporation adds: “We are very optimistic about this quarter and the business going forward. We have over $100 million (revenue) of acquisitions of which we are in advanced discussions. We expect to see additional growth this quarter. We have been acquiring businesses as fast as possible and we will continue to do so.” During 2008 U.S. Dry Cleaning has acquired Team Enterprises in central California, Zoots in the Virginia Beach area and Caesars Cleaners in Hawaii. Lee said in the correspondence: “With every acquisition our cash flow improves.” He noted that since the company filed its IPO registration statement in December 2006, “we have quadrupled our store level cash flow and improved our liquidity while keeping debt levels proportionately flat.” He added that the company believes this is a significant achievement in the current economic climate.

About U.S. Dry Cleaning Corporation

U.S. Dry Cleaning’s mission is to create the premier national chain in the dry cleaning industry. The Company’s management team has extensive experience in retail consolidations and premier dry cleaning operations with a proven operating model. Management intends to rapidly acquire profitable, market-leading operations at accretive valuations. Each acquisition target is expected to be self-sufficient, and field management remains in place to ease the assimilation.

U.S. Dry Cleaning management believes the greatest value achieved in any consolidation is during the earliest phases. As a result, the company intends to grow as rapidly as possible to maximize shareholder value.

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This release is for informational purposes only and should not be construed as a solicitation to invest. U.S. Dry Cleaning future operation results are dependent upon many factors, including but not limited to (i) the company’s ability to obtain sufficient capital or a strategic business arrangement to fund its expansion plans (ii) the company’s ability to build the management and human resources and infrastructure necessary to support the growth of its business; (iii) competitive factors and developments beyond the company’s control and (iv) other risk factors discussed in the company’s periodic filings with the Securities & Exchange Commission, which are available for review at http://www.sec.gov under “Search for Company Filings”.

Company Contact:
Martin E. Janis & Company, Inc.

Beverly Jedynak
President

Tel: 312-943-1123
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