Coinmach (AMEX:DRY)
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From Jan 2020 to Jan 2025
Coinmach Service Corp. (the "Company") (Amex: DRA, DRY),
a leading supplier of outsourced laundry equipment services for
multi-family housing properties in North America, today announced the
filing with the Securities and Exchange Commission of its annual
report on Form 10-K for the 2006 fiscal year.
Subsequent to the Company's May 23rd press release and related
conference call, management identified approximately $2.0 million of
miscellaneous tax items, consisting primarily of state franchise
taxes, that were included in the calculation of consolidated tax
expense. Specifically, the Company classified such items in
consolidated tax expense as distinct from consolidated operating
expenses. As a result, quarterly and fiscal year ended March 31, 2006
operating income, EBITDA (earnings before deduction of interest,
depreciation and amortization expense), and consolidated tax expense
were reduced by this amount. These reclassifications have no impact on
the Company's consolidated cash flow, consolidated net loss or
earnings per share. The financial information set forth in the 10-K
properly accounts for this reclassification.
Coinmach Service Corp., through its operating subsidiaries, is a
leading supplier of outsourced laundry equipment services for
multi-family housing properties in North America. Coinmach's core
business involves leasing laundry rooms from building owners and
property management companies, installing and servicing laundry
equipment and collecting revenues generated from laundry machines.