AMERICAN ECOLOGY ANNOUNCES YEAR-END RESULTS, DECLARES QUARTERLY DIVIDEND.HOUSTON--(BUSINESS WIRE)--February 24, 1995--American Ecology Corporation, a hazardous waste Hazardous waste Any solid, liquid, or gaseous waste materials that, if improperly managed or disposed of, may pose substantial hazards to human health and the environment. Every industrial country in the world has had problems with managing hazardous wastes. disposal and services company, today reported results of operations for the quarter and year ended December 31, 1994. Fourth quarter earnings for 1994 were $1.3 million, or 16 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. , on revenue of $24.8 million. Earnings per share for the fourth quarter of the prior year were 25 cents, or earnings of $2.0 million on revenue of $18.0 million. For the year ended December 31, 1994, earnings were $3.8 million, or 49 cents per share, on revenue of $71.9 million, compared to prior year earnings of $4.7 million, or 60 cents per share, on revenue of $60.3 million. American Ecology's increased revenues for the year were attributable to an increase in transportation, processing and treatment volumes in the chemical market, and increased receipts of certain radioactive wastes radioactive waste, material containing the unusable radioactive byproducts of the scientific, military, and industrial applications of nuclear energy. Since its radioactivity presents a serious health hazard (see radiation sickness), disposing of such material is a and remediation projects in the radioactive waste market. "We are encouraged by the improvement in revenues and remain optimistic op·ti·mist n. 1. One who usually expects a favorable outcome. 2. A believer in philosophical optimism. op about the coming year," commented Jack K. Lemley, president and chief executive officer of American Ecology. "We anticipate that acquisitions made during 1994, overhead cost reductions, and continued chemical volume increases will lead to earning improvements in 1995." Separately, the Company's board of directors voted to declare a cash dividend of 2.5 cents per share, payable on March 15, 1995, to common stock shareholders of record as of February 28, 1995. American Ecology operates a chemical waste disposal facility in Nevada and two in Texas. The Company also operates a low-level radioactive (LLRW LLRW Low-Level Radioactive Waste ) disposal facility in Washington, has received a license approval for a similar facility in California, has a license application pending for a LLRW disposal facility in Nebraska, and operates a LLRW processing facility in Tennessee. Services provided by the Company include waste packaging, transportation, consulting, pretreatment pretreatment, n the protocols required before beginning therapy, usually of a diagnostic nature; before treatment. pretreatment estimate, n See predetermination. , disposal, fuels blending, recycling, and clean-up services. The Company's common stock trades on the Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. under the symbol ECOL ECOL es.comp.os.linux.* (newsgroups) ECOL Emmanuel Church of Lakewood (San Francisco, CA) . -0-
OPERATING RESULTS
Three Months Year
Ended December 31, Ended December 31,
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1994 1993 1994 1993
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(000's except per share amounts)
Revenues $24,814 $17,980 $71,891 $60,312 Income Before Taxes 1,521 3,101 5,635 7,532 Net Income 1,258 1,952 3,850 4,744 Per Share Amounts .16 .25 .49 .60 CONTACT: American Ecology Corporation, Houston C. Clifford Wright Clifford Emerson Wright (born 1927 in Saskatoon, Saskatchewan) was the mayor of Saskatoon from 1976 to 1988 and the first mayor born in the city. He was a member of the Saskatoon City Council from 1967 until being elected mayor in 1976. , Jr. or William P. McCaughey, 713/624-1900 |
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