Perma-Fix’s earnings fell to a net loss of $6.5 million for fiscal year 2012, down from net income of $11.6 million in 2011, though it saw a spike in revenues from the previous year, according to a Securities and Exchange Commission filing released yesterday. Though Perma-Fix has had to delay releasing its full fourth quarter and full-year 2012 financial results, originally slated for March 18, until later this week, some initial results were reported in the SEC filing. Perma-Fix wrote that its net loss for 2012 “includes a charge to deferred income tax expense of $3.3 million, $1.9 million of which is due to a reserve provided for an uncertain tax position and $1.4 million was attributed to the write-off of deferred tax asset.”
Revenues for the full year 2012 rose to approximately $127.5 million, an increase of $9.4 million from revenues of $118.1 million for fiscal year 2011, Perma-Fix wrote in the filing. The delay in filing earlier this week can be chalked up to a delay in outside accounting, rather than any last-minute changes, Chairman, President and CEO Lou Centofanti said yesterday. “Our outside accountants weren’t ready, and we thought it better to let them finish,” Centofanti said. “They got a little behind and needed a couple more days. We’ll release it shortly, sometime this week.”