Eastern Environmental Services Inc. announces first quarter results.DRUMS, Pa.--(BUSINESS WIRE)--Nov. 17, 1994--Eastern Environmental Services The various combinations of scientific, technical, and advisory activities (including modification processes, i.e., the influence of manmade and natural factors) required to acquire, produce, and supply information on the past, present, and future states of space, atmospheric, Inc. (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 :EESI EESI Environmental and Energy Study Institute EESI Energy and Environmental Security Initiative (US DoE) ) Thursday announced a net loss for the quarter ended Sept. 30, 1994, of $192,881, or 4 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. , compared to net income of $71,460, or 2 cents per share, for the quarter ended Sept. 30, 1993. A net loss from continuing operations continuing operations Parts of a business that are expected to be maintained as an ongoing segment of an overall business operation. Income and losses from continuing operations are reported separately if any segments have been discontinued during the for the current period of $192,881, or 4 cents per share, was reported on revenues from continuing operations of $2,470,835, compared to net income from continuing operations of $35,460, or 1 cent per share, on revenue of $2,480,261 for the quarter ended Sept. 30, 1993. Company officials stated that operating results for the first quarter were negatively impacted by a temporary decline in volumes at the West Virginia West Virginia, E central state of the United States. It is bordered by Pennsylvania and Maryland (N), Virginia (E and S), and Kentucky and, across the Ohio R., Ohio (W). Facts and Figures Area, 24,181 sq mi (62,629 sq km). Pop. landfill as certain waste streams are being replaced with more profitable waste streams. Increased cost of amortization of airspace and nonrecurring high leachate leach·ate n. A product or solution formed by leaching, especially a solution containing contaminants picked up through the leaching of soil. disposal cost also negatively affected first quarter results. On a positive note, the company received final approval from the West Virginia Public Service Commission to increase its base rate per ton from $22.50 per ton to $28.25 per ton for municipal solid waste “Municipal waste” redirects here. For other uses, see Municipal waste (disambiguation). Municipal solid waste (MSW) is a waste type that includes predominantly household waste (domestic waste) with sometimes the addition of commercial wastes collected by a deposited in the newly constructed composite lined disposal area. Officials noted that the self-imposed volume limitations at the company's Kentucky facility continues to negatively impact operating results; however, revenue growth is strong at their South Carolina South Carolina, state of the SE United States. It is bordered by North Carolina (N), the Atlantic Ocean (SE), and Georgia (SW). Facts and Figures Area, 31,055 sq mi (80,432 sq km). Pop. (2000) 4,012,012, a 15. landfill and selling, general, and administrative expenses continue to decline as the company furthers its previously announced restructuring restructuring - The transformation from one representation form to another at the same relative abstraction level, while preserving the subject system's external behaviour (functionality and semantics). plan. Eastern Environmental Services Inc. is an integrated waste services company specializing in the transportation and disposal of non-hazardous residential, commercial and industrial waste. It operates throughout the Eastern United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . -0-
EASTERN ENVIRONMENTAL SERVICES INC.
Condensed Consolidated Financial Information
($ in thousands, except per share amounts)
Selected Income Statement Information:
--------------------------------------
Three Months Ended Sept. 30,
1994 1993
---- ----
Revenues $ 2,471 $ 2,480
Gross profit 427 855
Operating (loss) income (315) 95
(Loss) Income from continuing
operations net of applicable
income tax (benefit) expense
of $(35) and $33 (193) 35
Gain from discontinued
operations net of income
taxes of $34 -- 36
Net (loss) income (193) 71
(Loss) earnings per share:
Continuing operations $ (0.04) $ 0.01
Discontinued operations -- 0.01
Net (loss) income $ (0.04) $ 0.02
Selected Balance Sheet Information:
----------------------------------
Sept. 30, June 30,
1994 1994
---- ----
Assets:
Cash and cash equivalents $ 627 $ 786
Accounts receivable and
and other current assets 2,672 2,895
Current assets of
discontinued operations 95 118
Total current assets 3,394 3,799
Property and equipment, net 11,980 11,782
Intangible and other assets 1,158 1,352
Noncurrent assets of
discontinued operations 528 535
Total assets $17,060 $17,468
Liabilities and stockholders' equity:
Total current liabilities $ 3,960 $ 4,133
Long-term liabilities 3,687 3,729
Stockholders' equity 9,413 9,606
Total liabilities and
stockholders' equity $17,060 $17,468
CONTACT: Eastern Environmental Services Inc., Drums Gregory M. Krzemien, 717/788-6074 |
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