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November 9 , 2021 evi INDUSTRIES EVI Industries Sets Multiple Records in First Quarter Operating Results MIAMI -- ( BUSINESS WIRE ) -- EVI Industries , Inc. ( NYSE American : EVI ) achieved record revenue , gross profit , gross margin , operating profit , net income , and Adjusted EBITDA for the three - months ended September 30 , 2021 , the first quarter of the Company's fiscal year ending June 30 , 2022 ( " fiscal 2022 " ) . The Company's record operating results reflect continued strong demand for the Company's products and services , growth from continuing operations and from recent acquisitions , and the realization of certain benefits in connection with the Company's optimization while continuing the recovery from the COVID - 19 pandemic . Highlights to EVI's First Quarter Record Operating Results ( Compared to the First Quarter of Fiscal 2021 ) Revenue increased 10 % to a record $ 64 million ■ Gross profit increased 32 % to a record $ 18 million Gross margin increased by 470 basis - points to a record 27.7 % ■ Net income increased from $ .52 million to a record $ 2.0 million Adjusted EBITDA increased 78 % from $ 2.5 million to a record $ 4.4 million , or approximately 7.0 % Henry M. Nahmad , EVI's Chairman and CEO commented : " Our record operating results for the first quarter of fiscal 2022 reflect continued recovery across our end customer categories and the success of our efforts to overcome product shortages , shipping challenges , and rapidly rising product costs to take advantage of the solid demand for commercial laundry products and services . Our Company continues to execute at a high level and leverage our market leadership position and significant commercial and operational capabilities to gain market share . With ongoing positive market trends , steady improvement in our capabilities , and acquisition and strategic transaction opportunities , we are confident in our ability to continue to build our business and deliver superior results during fiscal 2022 and beyond . " Factors Impacting Fiscal Q1 Operating Performance Product Pricing . During calendar 2021 , like other industries , manufacturers of commercial laundry products have experienced significant inflationary pressures and have raised prices accordingly . In connection with the inflationary trend , the Company raised selling prices and took certain other measures to improve gross margins , including the promotion of specific sales methods aimed at delivering enhanced solutions to customers and further