Mac-Gray Corp. announced the signing of an amended five-year, $250 million senior credit facility. The transaction extends the maturity date by 14 months to May 2018 and reduces the Company's borrowing spread, based on its current leverage ratio, by 75 basis points. As a result of the transaction, the Company expects to generate approximately $700,000 in interest expense savings in 2013 and approximately $5 million over the life of the facility, depending on utilization.

Moab Capital Partners, LLC announced that Institutional Shareholder Services Inc. has chosen to support both Mr. Hyman and Mr. Rothenberg for election to the Board of Directors of Mac-Gray Corp.

Mac-Gray Corp. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the quarter, revenue was $84.236 million against $81.593 million a year ago. Income from operations was $5.768 million against $6.525 million a year ago. Loss before income tax expense was $1.336 million against profit before income tax of $4.860 million a year ago. Net loss was $0.767 million or $0.05 per diluted share against net income of $2.918 million or $0.19 per diluted share a year ago. Income before income tax expense, as adjusted was $2.170 million against $4.683 million a year ago. Net income, as adjusted was $1.247 million or $0.08 per diluted share against $2.812 million or $0.19 per diluted share a year ago. EBITDA was $12.733 million against $17.524 million a year ago. EBITDA, as adjusted was $16.239 million against $17.347 million a year ago. Net cash flow provided from operations was $12 million compared to $6.5 million a year ago. This increase was a result of the increase in net income and positive changes in working capital components of the balance sheet. CapEx was $9.7 million compared with $8.9 million in the same period a year ago. Based on its first-quarter performance and current market conditions, the company reiterated its 2013 guidance including, revenue in the range of $328 million to $332 million, capital expenditures in the range of $36 million to $39 million, including laundry facilities management contract incentives, net income, as adjusted, in the range of $0.70 to $0.80 per diluted share; and EBITDA, as adjusted, in the range of $68 million to $71 million. Net income, as adjusted, and EBITDA, as adjusted, exclude unrealized gains/losses related to interest rate derivative instruments and fuel commodity derivatives, and any one-time charges to income.