Marketplace Today Blog

By Thomas Content
Milwaukee Journal Sentinel

Sales fell nearly 15 percent but net income rose in 2009 for Alliance Laundry Holdings LLC, the Ripon-based maker of Speed Queen, UniMac and other commercial washing machines and dryers.

Sales were $393.2 million, down $67.1 million, or 14.6 percent, from $460.3 million in 2008. Sales fell in the United States, Canada and Europe, offsetting a small increase in sales in China, the company said in a regulatory filing.

Profit rose to $16.6 million, up $1.1 million, as the company cut interest costs, operating costs and saw its tax rate fall.

“While the economy in 2009 was the worst our company has experienced in more than two decades, I’m proud to report the Alliance team responded in an extraordinary way,” Thomas L’Esperance, Alliance chief executive, said in a statement. “We delivered record profits, improved our liquidity position and dramatically improved our balance sheet.”

Alliance reduced its total debt obligations by more than $50 million, to $282.8 million, according to the filing.

Privately held Alliance reports results to the Securities and Exchange Commission because some of its debt is publicly held.