American Ecology reports third quarter earnings, declares quarterly dividend.

HOUSTON--(BUSINESS WIRE)--November 11, 1994--American Ecology Corporation (NASDAQ:ECOL), a hazardous waste disposal and services company, reported its financial results for the third quarter ended September 30, 1994.

Revenue for the quarter was $14,146,000 compared to $14,084,000 for the same quarter a year ago. Net income for the quarter was $1,069,000, or $.14 per share compared to $766,000, or $.10 for the third quarter last year. The third quarter of 1994 included net operating cost reductions of approximately $2.7 million principally from changes in environmental cost estimates. In the third quarter of 1993, operating costs were reduced by approximately $3.0 million principally from environmental settlement agreements.

For the first nine months of 1994, earnings per share were $.33 compared to $.35 cents the first nine months of 1993. Revenue for the first nine months of 1994 was $47,077,000 compared to $42,332,000 during the first nine months of 1993. Net income for the first nine months of 1994 was $2,592,000 compared to $2,792,000 for the same period in 1993.

Commenting on American Ecology's results, Chairman and Chief Executive Officer Harry J. Phillips, Jr., said "Delays in large chemical clean-up projects impacted our third quarter performance, however, these contracts are now underway, and we anticipate a much stronger fourth quarter."

Separately, the Company's board of directors voted to declare a cash dividend of 2.5 cents per share, payable on December 15, 1994, to common stock shareholders of record November 30, 1994.

American Ecology operates a chemical waste disposal facility in Nevada and two in Texas. The Company also operates a low-level radioactive waste (LLRW) disposal facility in Washington, has received a license approval for a similar facility in California, has a license application pending for a LLRW disposal facility in Nebraska, and operates a LLRW processing facility in Tennessee. Services provided by the Company include waste packaging, transportation, consulting, pretreatment, disposal, fuels blending, recycling, and clean-up services. The Company's common stock trades on the Nasdaq Stock Market under the symbol ECOL.

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                     AMERICAN ECOLOGY CORPORATION
                    THIRD QUARTER FINANCIAL RESULTS
                 (in $000's, except per share amounts)

                           Three Months Ended   Nine Months Ended
                              September 30,        September 30,
                             1994      1993       1994      1993
Revenues                   $14,146   $14,084    $47,077   $42,332
Income Before Taxes          1,697     1,163      4,114     4,431
Net Income                   1,069       766      2,592     2,792
Per Share Amounts             $.14      $.10       $.33      $.35

CONTACT: American Ecology Corporation, Houston

              C. Clifford Wright, Jr. or William P. McCaughey,
              713/624-1900