Alliance Laundry Holdings reported third-quarter earnings more than tripled on higher sales of commercial laundry equipment, but its CEO warned of slowing demand in the coming quarter. The Ripon maker of Speed Queen and Huebsch washing machines and dryers said today net income rose to $4.2 million from $1.2 million. Sales increased 3.7 percent to $117.6 million from $113.4 million. More than three-quarters of the company’s revenue increase was attributed to higher commercial laundry revenue of $3.2 million. Chief Executive Thomas L’Esperance said the company has seen a drop in demand in North America and Europe in the quarter. In expectation of a continuing slowdown, Alliance has already taken steps to reduce its work force and spending, he said. “Overall, we are confident that our strong market position, continued focus on our strategic priorities and our ability to control costs, should enable Alliance to manage the current economic challenges while maintaining our commitment to long-term profitable growth,” L’Esperance said in a statement. Alliance Laundry is privately held but some of its debt is publicly held.
