EnviroStar, Inc (EVI) has reported a 213.43 percent jump in profit for the quarter ended Dec. 31, 2016. The company has earned $1.68 million, or $0.19 a share in the quarter, compared with $0.54 million, or $0.08 a share for the same period last year. Revenue during the quarter surged 188.43 percent to $42.87 million from $14.86 million in the previous year period. Total expenses were 93.37 percent of quarterly revenues, down from 94.21 percent for the same period last year. This has led to an improvement of 84 basis points in operating margin to 6.63 percent.
Operating income for the quarter was $2.84 million, compared with $0.86 million in the previous year period.
Henry M. Nahmad, chairman and chief executive officer of EVI, stated,“The results of our operations reflect the addition of Western to the EVI family and the financial strength of our combined operations. We continue to pursue our goal of becoming the largest distributor and service provider in the commercial laundry industry through the execution of our buy and build growth strategy, including ongoing efforts to build existing operations through collaboration across our business units. We believe the results of these initiatives will result in continued growth of the EVI family and our financial results.”
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