American Ecology Shareholders Elect Eight Directors to Board; Chairman Expects Company Will Achieve 1999 Business Plan.BOISE, Idaho--(BUSINESS WIRE)--May 13, 1999-- Shareholders of American Ecology Corporation (Nasdaq:ECOL ECOL es.comp.os.linux.* (newsgroups) ECOL Emmanuel Church of Lakewood (San Francisco, CA) ) today re-elected the company's eight directors to the board and heard Chairman and Chief Executive Officer Jack K. Lemley forecast 1999 net income "in line" with the company's business plan of $4.2 million. "After a difficult period of restructuring, the company is now positioned to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. its unique assets and capable, dedicated employee team," Lemley said. "Our business plan is to earn $4.2 million in 1999, and we believe we will meet that." Re-elected to one-year terms on the board of directors were Rotchford L. Barker; Paul C. Bergson; Keith D. Bronstein; Patricia M. Eckert; Edward F. Heil; Lemley; Paul F. Schutt, and John J. Scoville. In other business, shareholders approved proposals to: -- Increase the number of shares of common stock available for the employee option plan; -- Increase the authorized maximum of shares of the company's common stock to 50,000,000 from 25,000,000; -- Ratify the selection of Balukoff, Lindstrom & Co., P.A. as the company's independent auditors Independent Auditor An external auditor with a certified public accounting designation that qualifies him or her to provide an auditor's report. Notes: These auditors aren't affiliated with the company being audited. for the fiscal year 1999. 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. . The company has been in business since 1952. This news release includes forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve a number of risks and uncertainties. Financial forecasts involve estimates of future anticipated business revenues, control of costs and operations, employee relations, regulatory and legal issues, and general economic conditions, some or all of which may at times be beyond the control of the company. Thus, there can be no assurance that the forecasts will be achieved. Actual results will vary from those forecasted and the variations may be material. |
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