American Ecology Corporation Reports Profitable Quarter.BOISE, Idaho--(BUSINESS WIRE)--Oct. 21, 1997--American Ecology Corporation (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : ECOL ECOL es.comp.os.linux.* (newsgroups) ECOL Emmanuel Church of Lakewood (San Francisco, CA) ), today announced that it reported net income available to shareholders of $63,000, or 1 cent per share, for the three months ended September 30, 1997. The report compares to net income of $280,000, or 4 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. , in the third quarter of 1996. For the first nine months of 1997, American Ecology reported net income of $101,000, or 1 cent per share. The company lost $2.57 million, or 32 cents per share, in the first nine months of 1996. Per-share earnings figures for the September 30, 1997, report reflect an increase in common shares of American Ecology in the market. The additional shares in the market are due to payment of the Series E Redeemable Redeemable Eligible for redemption under the terms of an indenture. Convertible Preferred Stock Convertible Preferred Stock Preferred stock that includes an option for the holder to convert the preferred shares into a fixed number of common shares, usually anytime after a predetermined date. Also known as "convertible preferred shares". dividends; exercise of options by company directors and officers in the third quarter of 1997; directors fees paid, and other compensation. American Ecology's revenue for the quarter was $11.0 million, compared to $13.3 million in the year-earlier period. Robert S Robert, Henry Martyn 1837-1923. American army engineer and parliamentary authority. He designed the defenses for Washington, D.C., during the Civil War and later wrote Robert's Rules of Order (1876). Noun 1. . Thorn thorn, in botany thorn, sharp-pointed projection on some plants, usually protective in function. Botanically, thorns are distinguished as modified stems (as in the honey locust and hawthorn) from spines, which are modified leaves (as in the barberry), and , vice-president and chief accounting officer of American Ecology, attributed most of the decline in revenue to the company's closure of an unprofitable chemical processing center in Texas. Thorn said the company is continuing to address its operating efficiency, and has posted four profitable quarters in the last six reporting periods. American Ecology Corporation provides processing, packaging, transportation, remediation and disposal services for generators of 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. and low-level radioactive waste Noun 1. low-level radioactive waste - (medicine) radioactive waste consisting of objects that have been briefly exposed to radioactivity (as in certain medical tests) at licensed facilities throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . -0-
AMERICAN ECOLOGY CORPORATION
CONSOLIDATED STATEMENT OF OPERATIONS
(Unaudited)
Reported in $000 (except per share amounts)
Three Months Ended Nine Months Ended
September 30, September 30,
1997 1996 1997 1996
Revenue $11,002 $13,315 $31,333 $39,503
Operating Costs 5,715 10,568 19,023 34,893
Gross Profit (Loss) 5,287 2,747 12,310 4,610
Selling, General &
Admin. Expense 5,856 2,838 13,785 9,258
Income (Loss) From
Operations (569) (91) (1,475) (4,648)
Investment Income (380) (248) (704) (275)
Gain on Sale of Assets (27) (42) (134) 118
Other (Income) Expense (308) (261) (1,316) (375)
(Gain) Loss -
Security Sales --- --- --- (350)
Net Income (Loss)
before Income Taxes 146 460 679 (3,530)
Income Tax
Expense (Benefit) (111) 75 9 (1,270)
Net Income (Loss) 257 385 670 (2,260)
Preferred Stock Dividends 194 105 569 314
Net Income (Loss)
Available to Common
Shareholders $ 63 $ 280 $ 101 $ (2,574)
Net Earnings (Loss)
Per Share, Primary $ 0.01 $ 0.04 $ 0.01 $ (0.32)
Dividends Paid Per
Common Share $ 0.00 $ 0.00 $ 0.00 $ 0.00
CONTACT: Scott Peyron, 208/388-3800 |
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