Perma Fix yesterday gave a solid earnings report for the fourth quarter of 2011, and the year 2011 overall, in the wake of its acquisition of Safety and Ecology Corporation. Revenues for the full year were $118.5 million, and revenue for the fourth quarter of 2011 increased to $33.3 million, versus $25.5 million for the same period of 2010. Gross profit for the year was $28.7 million, and for the quarter was $6.4 million. “Overall, 2011 was a great year, both financially and operationally,” Lou Centofanti, chairman and CEO of Perma Fix, said yesterday. “We completed the acquisition of SEC and now offer a much broader suite of services. Looking ahead, we plan to leverage these new capabilities and, as a result, have begun much more aggressive bidding on new service contracts. We anticipate another solid year in 2012.”
Weapons Complex Monitor Vol. 34 No. 19
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Morning Briefing
Article of 11
March 17, 2014
PERMA-FIX REPORTS INCREASED PROFIT, REVENUE
Adjusting to its acquisition of the Safety and Ecology Corporation, Perma Fix announced it has restructured into two new reporting segments: treatment of waste, covering nuclear waste treatment and management, and services which includes on-site work and consulting. Much focus of the company’s earnings call with investors was also on its plan to begin producing the medical isotope Technetium-99, which still has years of R&D and licensing to go through before it reaches Federal Drug Administration approval, Centofanti said. Centofanti also said Perma Fix saw a decline in government work as the Department of Energy shifted spending at the Hanford site away from radioactive waste treatment. However, Centofanti said “that waste isn’t going anywhere,” and that the company anticipates government work to remain steady through 2012.
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