Perma-Fix Announces First Quarter Operating Loss

Perma-Fix Environmental Services announced late last week a $1.8 million operating loss for the first quarter of 2015, better than the $3.5 million operating loss it experienced in 2014. Perma-Fix CEO Lou Centofanti warned last month that the company expected 2015 to go through some “lumps,” but other quarters should make up for the down quarters. Revenue for the quarter was $13.6 million, compared to $10.5 million in the same period of 2014. Centofanti said last week that the visibility for the rest for the rest of 2015 has inspired the company to revise its outlook. “As is typical in our industry, the first quarter of 2015 was a seasonally slow period, but we are pleased to report that we experienced a significant improvement over the comparable period last year,” Centofanti said in a statement. “Looking ahead to the second quarter of 2015, we believe that we should have continued revenue and gross profit improvement compared to the second quarter of 2014 and first quarter of 2015. As a result, we anticipate improvement in our adjusted EBITDA for both the first half of 2015 and the full year. Based on our improved visibility, we believe our adjusted EBITDA should be in the range of $6 million to $7 million for 2015.”