The Company recently acquired certain assets of Dryclean USA Franchise Company, including the worldwide rights to the name DRYCLEAN USA, along with franchises and licenses granted by DRYCLEAN USA and associated annual royalties.
DRYCLEAN USA currently has nearly 400 retail drycleaning stores under franchise and license by it in the United States, the Caribbean, Central and South America. It plans to aggressively expand by granting franchises to those looking to establish new, and those looking to convert existing, drycleaning units under a nationally recognized name.
Dryclean USA, Inc. is engaged in the manufacture and sale of telephone test and customer premise equipment utilized by telephone and telephone interconnect companies in the installation and maintenance of telephone equipment.
Through Steiner-Atlantic Corp. (Steiner) the Company is a supplier of dry cleaning, industrial laundry equipment and steam boilers to the United States, the Caribbean and Latin American markets.
Steiner-Atlantic Brokerage Company, Inc. (Steiner Brokerage), a subsidiary of Steiner, acts as a business broker to assist others seeking to buy or sell existing dry cleaning and laundry businesses.
Financial Summary
For the three months ended 9/30/99, revenues rose 34% to $4.7 million. Net income rose 77% to $188 thousand. Results reflect the inclusion of telecommunication sales, increased commissions and higher sales of laundry equipment
1999 Annual Report
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