American Ecology Sustains Profitability During Normally Sluggish March Quarter; Solid '99 Earnings Forecast.BOISE, Idaho--(BUSINESS WIRE)--April 22, 1999-- 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 ecology, study of the relationships of organisms to their physical environment and to one another. The study of an individual organism or a single species is termed autecology; the study of groups of organisms is called synecology. Corporation (Nasdaq:ECOL ECOL es.comp.os.linux.* (newsgroups) ECOL Emmanuel Church of Lakewood (San Francisco, CA) ), today announced that the company reported net income of $119,000 for the quarter ended March 31, 1999, compared to a loss of $78,000 for the same period of 1998. The company calculated basic earnings per share of .001 cents on net income available to common shareholders of $16,000 for the quarter ended March 31, 1999. The results compare to a net loss of $183,000, or 1 cent basic loss per share, in the comparable period of 1998. Revenue for the quarter was $9.2 million, compared to $9.6 million in the year-earlier period. "The company's business units are generating revenues according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. our projections, and if our performance continues at current levels we expect to be profitable again this year," 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. of the company. "American Ecology is growing our customer base by delivering valued processing and disposal solutions, and we are in position to fully 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>. our assets." Nagel said customers typically reduce waste shipments to disposal facilities in the winter months. That usually means that business unit performance in the March quarter isn't as strong as other reporting periods. Even so, American Ecology was profitable in the first quarter, and Nagel said that performance has spurred optimism at the company about the remaining nine months of the year. American Ecology will hold its annual shareholders meeting May 13, 1999, at the Boise Centre on the Grove, 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. . 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. . 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 as to the future that may or may not prove to be accurate. The forecast information reflects numerous assumptions as to industry performance, general business and economic conditions, regulatory and legal requirements, taxes and other matters, many of which are beyond the control of the company. Similarly, this information assumes certain future business decisions that are subject to change. There can be no assurance that the results predicted will be realized. Actual results will vary from those presented by the forecasts and those variations may be material. -0-
AMERICAN ECOLOGY CORPORATION
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
($ in 000's except per share amounts)
Three Months Ended
March 31,
1999 1998
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Revenues $ 9,179 $ 9,644
Operating Costs 4,822 6,079
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Gross profit 4,357 3,565
Selling, general and
administrative expenses 4,373 4,042
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Income (Loss) from operations (16) (477)
Investment Income (43) (325)
Gain on sale of assets -- (35)
Other (Income) expense (98) (184)
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Net Income before income taxes 125 67
Income tax expense 6 145
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Net Income (Loss) 119 (78)
Preferred stock dividends 103 105
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Net income (Loss) available to
common shareholders $ 16 $ (183)
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Basic Earnings Per Share $ .001 $ (.017)
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Diluted Earnings Per Share $ .001 $ (.017)
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Dividends paid per common share $ -- $ --
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