RIPON, Wis. — Alliance Laundry Holdings LLC, the parent company of Alliance Laundry Systems, saw its second-quarter earnings increase from the previous year, according to the company’s Second-Quarter Financials Report.
Net revenues for second-quarter 2013 were $142.4 million, up 10.4% from $128.9 million for the same quarter in 2012.
The company attributes the increase in net revenue to “increases in United States and Canada revenues of $11.2 million; Europe revenues of $1.5 million; Latin America revenues of $1.1 million; and Middle East and Africa revenues of $0.5 million. These increases were partially offset by lower Asia revenues of $0.8 million.”
Net income for the second quarter also saw an increase, coming in at $10 million, up from $6 million in second-quarter 2012.
The company attributes this to “improved gross profit of $6.9 million and lower loss from early extinguishment of debt of $6.2 million, offset by higher interest expense of $4.8 million; higher selling; general and administrative expenses of $2.5 million; higher other costs of $0.3 million; and a higher provision for income taxes of $1.6 million.”
Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) for second-quarter 2013 came in at $29.0 million, up $4.6 million from $24.4 million during second-quarter 2012.
“We are pleased to report record revenues for the 2013 second quarter, and significantly increased earnings versus the prior year,” says CEO Michael D. Schoeb. “Strong demand in the U.S. from new products, improved economic conditions and continuing momentum in international markets contributed to higher sales. We were encouraged to see double-digit growth in three of our five geographic segments.”
Looking forward, Schoeb says, “While a level of caution remains around the broader economic environment, we continue to be confident in the opportunities that lie ahead. Our continued investments in new products, value-added services and international [efforts] will enhance our market position across the globe.”