American Ecology Reports Best First Quarter Since 1994.BOISE, Idaho--(BUSINESS WIRE)--May 1, 1998--Robert S. Thorn, vice president and chief accounting officer of American Ecology Corporation (ECOL ECOL es.comp.os.linux.* (newsgroups) ECOL Emmanuel Church of Lakewood (San Francisco, CA) :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 ), today announced that the company reported its best first-quarter performance since 1994. American Ecology reported a net loss of $78,000, or 1 cent basic loss per share, on revenue of $9.64 million for the quarter ended March 31, 1998. The narrow loss compares to a loss of $1.1 million or basic loss of 14 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 $9.62 million for the comparable period of 1997. "Our first quarter numbers are slightly ahead of plan so we are encouraged by these improving results," said Joe Nagel, president and chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. . "American Ecology's business tends to experience seasonal fluctuation, with activity peaking in the second and third quarters, so this nearly break-even performance for the March period is solid. We look forward to continuing to provide safe solutions to our customers' waste disposal needs." Thorn said the company's operating performance was adversely affected by a labor dispute at its facility in Oak Ridge, Tennessee Oak Ridge is an incorporated city in Anderson and Roane Counties in East Tennessee, about 25 miles northwest of Knoxville. Oak Ridge's population was 27,387 people at the 2000 census. . Members of the Oil, Chemical and Atomic Workers, following approximately a month of negotiations with the company, staged a 19-day strike before returning to work under the terms and conditions of the former contract. On March 4, the company informed the union that the parties were at impasse im·passe n. 1. A road or passage having no exit; a cul-de-sac. 2. A situation that is so difficult that no progress can be made; a deadlock or a stalemate: reached an impasse in the negotiations. . The company's final offer to the union was implemented on March 9. American Ecology also announced that it will hold its annual meeting of shareholders on May 14, 1998, at the Grove Hotel The Grove Hotel is a hotel which is in a chain of the largest family-owned and run hotel group in the United Kingdom. The centre piece of the Hotel is the Manor. Built in Elizabethan times, the hotel has seen many famous guests go through its doors from; Queen Victoria and at Boise. The meeting is scheduled to begin at 10 a.m. American Ecology 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
Reported in $000 (except per share amounts)
First Quarter Ended First Quarter Ended
March 31, March 31,
1998 1997
----- -----
Revenue $9,644 $9,629
Operating Costs 6,078 6,594
Gross Profit (Loss) 3,566 3,035
Selling, General & Admin. Expense 4,043 4,027
Income (Loss) From Operations (477) (922)
Investment (Income) (325) 42
(Gain) or Loss on Sale of Assets (35) --
Other (Income) Expense (184) (83)
Net Income (Loss) before Income Taxes 67 (951)
Income Tax Expense (Benefit) 145 (43)
Net (Loss) (78) (908)
Preferred Stock Dividends 105 186
Net Income (Loss) Available to Common ($ 183) (1,094)
Shareholders
Basic earnings per share ($.01) ($.14)
Diluted earnings per share ($.01) ($.14)
Dividends paid per common share -- --
CONTACT: Scott Peyron and Associates Scott Peyron, 208/388-3800 |
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