EnviroStar, Inc. (EVI) has reported an 124.12 percent jump in profit for the quarter ended Sep. 30, 2016. The company has earned $0.35 million, or $0.05 a share in the quarter, compared with $0.16 million, or $0.02 a share for the same period last year.
Revenue during the quarter surged 51.86 percent to $9.47 million from $6.24 million in the previous year period. Total expenses were 94.03 percent of quarterly revenues, down from 95.96 percent for the same period last year. This has led to an improvement of 193 basis points in operating margin to 5.97 percent.
Operating income for the quarter was $0.57 million, compared with $0.25 million in the previous year period.
Henry M. Nahmad, chairman and chief executive officer of EnviroStar stated, "We are very pleased with our first quarter performance and the growth realized in our revenues, income and earnings per share compared to the same period of fiscal 2016. We remain excited about our future, particularly in light of our addition of Western State Design during October 2016, as well as other potential acquisition and organic growth opportunities."
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