This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Perma-Fix Announces 18.6% Year-Over-Year Sales Growth, Improved Margins, And Increased Profitability For The Second Quarter Of 2010

The Perma-Fix Environmental Services, Inc. logo is available at

This press release contains "forward‑looking statements" which are based largely on the Company's expectations and are subject to various business risks and uncertainties, certain of which are beyond the company's control. Forward-looking statements generally are identifiable by use of the words such as "believe", "expects", "intends", "anticipate", "plans to", "estimates", "projects", and similar expressions. Forward‑looking statements include, but are not limited to: the treatment of Tritium waste as an attractive new opportunity going forward. These forward‑looking statements are intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. While the Company believes the expectations reflected in this news release are reasonable, it can give no assurance such expectations will prove to be correct. There are a variety of factors which could cause future outcomes to differ materially from those described in this release, including, without limitation, future economic conditions; industry conditions; competitive pressures; our ability to apply and market our technologies; that neither the federal government nor any other party to a subcontract involving the federal government terminates or renegotiates any material contract granted to us prior to expiration of the term of the contract, as such contracts are generally terminable or renegotiable on 30 days notice, at the government's option; or the government or such other party to a contract granted to us fails to abide by or comply with the contract or to deliver waste as anticipated under the contract; that Congress provides continuing funding for the Department of Defense's and Department of Energy's remediation projects; and the additional factors referred to under "Special Note Regarding Forward-Looking Statements" of our 2009 Form 10-K and From 10-Q for the quarter ended March 31, 2010. The Company makes no commitment to disclose any revisions to forward‑looking statements, or any facts, events or circumstances after the date hereof that bear upon forward‑looking statements.

Please visit us on the World Wide Web at .

  Three Months Ended Six Months Ended
  June 30, June 30,
(Amounts in Thousands, Except for Per Share Amounts) 2010 2009 2010 2009
Net revenues  28,096  23,698  53,955  45,700
Cost of goods sold  21,356  18,244  41,876  35,675
Gross profit  6,740  5,454  12,079  10,025
Selling, general and administrative expenses  3,829  3,889  7,653  7,707
Loss (gain) on disposal of property and equipment  --   --   2  (12)
Income from operations  2,911  1,565  4,424  2,330
Other income (expense):        
Interest income  16  41  37  93
Interest expense  (208)  (468)  (427)  (1,015)
Interest expense-financing fees  (103)  (63)  (206)  (76)
Other  --   9  5  10
Income from continuing operations before taxes  2,616  1,084  3,833  1,342
Income tax expense  1,101  91  1,537  100
Income from continuing operations  1,515  993  2,296  1,242
(Loss) income from discontinued operations, net of taxes  (69)  (242)  (213)  57
Net income applicable to Common Stockholders  1,446  751  2,083  1,299
Net income (loss) per common share – basic        
Continuing operations  .03   .02   .04   .02 
Discontinued operations  --  (.01) --   -- 
Net income per common share  .03   .01   .04   .02 
Net income (loss) per common share – diluted        
Continuing operations  .03   .02   .04   .02 
Discontinued operations  --  (.01)  --  -- 
Net income per common share  .03   .01   .04   .02 
Number of common shares used in computing  net income (loss) per share:        
Basic  54,991  54,124  54,843  54,053
Diluted  55,124  54,537  55,012  54,189
  June 30, 2010 December 31,
(Amounts in Thousands, Except for Share Amounts) (Unaudited) 2009
Current assets:    
Cash & equivalents  $ 123  $ 196
Account receivable, net of allowance for doubtful  accounts of $304 and $296  10,078  13,141
Unbilled receivables   8,166  9,858
Other current assets  2,593  3,448
Deferred tax assets - current  707  1,856
Assets of discontinued operations included in current assets  109  174
Total current assets  21,776  28,673
Net property and equipment  44,881  45,727
Property and equipment of discontinued operations, net of accumulated  depreciation of $10 and $13, respectively  637  651
Deferred tax asset, net of liabilities  208  272
Intangibles and other assets  55,706  50,752
Total assets  $ 123,208  $ 126,075
Current liabilities  21,699  26,190
Current liabilities related to discontinued operations  740  993
Total current liabilities  22,439  27,183
Long-term liabilities  21,752  22,655
Long-term liabilities related to discontinued operations  1,336  1,433
Total liabilities  45,527  51,271
Commitments and Contingencies    
Preferred Stock of subsidiary, $1.00 par value; 1,467,396   shares authorized, 1,284,730 shares issued and  outstanding, liquidation value $1.00 per share  1,285  1,285
Stockholders' equity:    
Preferred Stock, $.001 par value; 2,000,000 shares authorized,  no shares issued and outstanding  —   — 
Common Stock, $.001 par value; 75,000,000 shares authorized, 55,032,117 and  54,628,904 shares issued, respectively; 54,993,907 and 54,628,904  outstanding, respectively  55  55
Additional paid-in capital  100,523  99,641
Accumulated deficit (24,094) (26,177)
  76,484 73,519
Less Common Stock in treasury at cost: 38,210 shares (88)  — 
   76,396  73,519
Total liabilities and stockholders' equity  $ 123,208  $ 126,075
CONTACT:  Perma-Fix Environmental Services, Inc.
          Dr. Louis F. Centofanti, Chairman and CEO
          (770) 587-5155

          Crescendo Communications, LLC
          David K. Waldman, US Investor Relations
          (212) 671-1021

          Herbert Strauss, European Investor Relations
          +43 316 296 316

company logo

4 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
PESI $4.19 -1.41%
AAPL $126.60 0.15%
FB $80.00 -1.48%
GOOG $567.68 -1.33%
TSLA $193.88 -3.36%


DOW 17,856.78 -278.94 -1.54%
S&P 500 2,071.26 -29.78 -1.42%
NASDAQ 4,927.37 -55.4390 -1.11%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs