American Ecology Lowers First Quarter Outlook, Reaffirms Full Year Operating Income Growth Guidance.BOISE, Idaho “Boise” redirects here. For other uses, see Boise (disambiguation). Boise is the capital and most populous city of the U.S. state of Idaho. It is the county seat of Ada County and the principal city of the Boise metropolitan area. -- Company Anticipates Announcing Dividend Policy at Annual Shareholders Meeting American Ecology Corporation (Nasdaq:ECOL ECOL es.comp.os.linux.* (newsgroups) ECOL Emmanuel Church of Lakewood (San Francisco, CA) ) today announced that certain customers have not shipped waste as rapidly as expected to the Company's waste disposal facilities. These delays will adversely affect first quarter results, however, the Company maintains its projection of 15 percent growth in operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. for 2005. "While waste receipts and resulting revenue will be lower than planned for the first quarter, the Company did not lose any major projects. We expect to receive and dispose of the delayed waste shipments during the balance of 2005," stated Stephen Romano, President and Chief Executive Officer. "Our management team remains confident we will achieve 15 percent growth in operating income this year," added Romano. Several large cleanup projects have not shipped waste as rapidly as expected to the Company's Grand View, Idaho Grand View is a city in Owyhee County, Idaho, United States. The population was 470 at the 2000 census. Geography Grand View is located at (42.984803, -116.093277)GR1. 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 facility. Shipments to its rate-regulated Richland, Washington Richland is a city in Benton County in southeastern Washington, at the confluence of the Yakima River and the Columbia River. As of the 2000 census, the city population was 38,708, with a 2005 population estimate of 43,520. facility have also been slower than initially projected. However, the Richland facility has a minimum revenue requirement for 2005 which management expects will be achieved. Also, the Company's hazardous waste facility in Robstown, Texas continued to experience reduced treatment business following a July 2004 fire. In Texas, the Company is constructing a new waste treatment building and expects to resume full treatment services late in the second quarter, at which time management expects to conclude its fire-related business interruption claim. To date, the Company has filed claims for more than $2 million for business interruption, of which approximately $431,000 was recognized in 2004. The Company also announced that its Board of Directors is evaluating dividend policy and is considering changing from an annual to quarterly dividend. The Company anticipates that an announcement will be made on dividend policy at its annual shareholders meeting, to be held on May 25, 2005 in Boise. "We believe our cash position and outlook supports our ability to reach our growth objectives and pay dividends to our shareholders," added Romano. American Ecology Corporation, through its subsidiaries, provides radioactive, PCB PCB: see polychlorinated biphenyl. PCB in full polychlorinated biphenyl Any of a class of highly stable organic compounds prepared by the reaction of chlorine with biphenyl, a two-ring compound. , hazardous and non-hazardous waste services to commercial and government customers throughout the United States, such as nuclear power plants, steel mills, medical and academic institutions, refineries and chemical manufacturing facilities. Headquartered in Boise, Idaho, the Company is the oldest radioactive and hazardous waste services company in the United States, having operated for more than fifty years. This press release contains forward-looking statements that are based on our current expectations, beliefs, and assumptions about the industry and markets in which American Ecology Corporation and its subsidiaries operate. Actual results may differ materially from what is expressed herein and no assurance can be given that the Company will successfully meet its 2005 earnings estimates, receive all projected waste shipments, prevail in pending litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. , collect on pending insurance claims, or declare a quarterly dividend. For information on other factors that could cause actual results to differ from expectations, please refer to American Ecology Corporation's most recent Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. and Quarterly Report on Form 10-Q Form 10-Q See 10-Q. filed with the Securities and Exchange Commission. |
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