News Releases

NEW YORK, Dec. 31, 2014 /PRNewswire/ -- ALJ Regional Holdings, Inc. (OTC Markets: ALJJ) announced results for its fiscal year ended September 30, 2014. 

For the year ended September 30, 2014, ALJ posted net income of $15.6 million and earnings per share of $0.48.  For the three months ended September 30, 2014, ALJJ posted net income of $6.9 million and earnings per share of $0.20.

ALJ acquired Faneuil, Inc. ("Faneuil") in October 2013 and Floors-N-More, LLC, dba Carpets N' More ("Carpets") in April 2014.  In February 2013, ALJ sold its subsidiary, KES Acquisition Company ("KES"). Therefore, KES' prior year operations are disclosed as discontinued operations in our financial statements and year over year comparisons for on-going operations are not possible. 

Faneuil is a leading provider of outsourcing and co-sourced services to both commercial and government entities in the healthcare, utility, toll and transportation industries. Carpets is one of  the largest floor covering retailers in Las Vegas and a provider of multiple finishing products for commercial, retail and home builder markets including all types of flooring, countertops, cabinets, window coverings and garage/closet organizers, with 5 retail locations.

Our financial statements reflect the full operations of Faneuil from October 18, 2013 through September 30, 2014 and Carpets from April 1, 2014 through September 30, 2014, and the discontinued operations of KES from October 1, 2012 through February 5, 2013. 

"Faneuil has continued to surpass our expectations," said Jess Ravich, ALJ's Executive Chairman.  He went on to say, "Carpets had a difficult quarter, but we have put in place certain corrections that should serve us well in 2015.  Overall, we are very pleased with our results."  Anna Van Buren, Faneuil's CEO stated, "We had a great close to the fiscal year. We expect continued success in 2015, following the award of a new health care contact services contract in California."

About ALJ Regional Holdings, Inc.

ALJ Regional Holdings, Inc.  is the parent company of Faneuil, Inc., a leading provider of outsourcing and co-sourced services to both commercial and government entities in the healthcare, utility, toll and transportation industries and Floors-N-More, LLC, dba Carpets N' More, one of the largest floor covering retailers in Las Vegas and a provider of multiple finishing products for commercial, retail and home builder markets including all types of flooring, countertops, cabinets, window coverings and garage/closet organizers, with 5 retail locations.

This press release contains forward-looking statements. Such statements include information regarding ALJ Regional Holdings, Inc.'s expectations, goals or intentions regarding the future, including but not limited to statements including the words "will" and "expect" and similar expressions. Forward-looking statements involve certain risks and uncertainties, and actual results may differ materially from those discussed in any such statement. Factors that could cause actual results to differ materially are discussed in ALJ's Annual Report for the fiscal year ended September 30, 2014 and in its other periodic reports issued through the OTC Markets News Service and available at www.otcmarkets.com. All forward-looking statements in this release are made as of the date hereof and ALJ assumes no obligation to update any forward-looking statement.

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SOURCE ALJ Regional Holdings, Inc.