This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
TheStreet Open House

Perma-Fix Announces Financial Results For The Third Quarter Of 2010

ATLANTA, Nov. 4, 2010 (GLOBE NEWSWIRE) -- Perma-Fix Environmental Services, Inc. (Nasdaq:PESI) today announced results for the third quarter ended September 30, 2010.

Dr. Louis F. Centofanti, Chairman and Chief Executive Officer, stated, "We experienced a decrease in revenue for the third quarter of 2010 due to a difficult DOE budget cycle and the timing of remediation projects. DOE spending on waste treatment at our facilities continued to lag behind spending for on-site services. Nevertheless, our revenue increased 9.4% year-to-date, as our on-site revenue related to the DOE's Hanford Site increased by $2.1 million for the third quarter and $7.0 million for the nine months ended September 30, 2010 versus the same periods last year."  

"In October 2010 we announced our plans to sell the remaining Industrial Segment facilities and operations which accounted for 8% of our total revenue and 4% of total assets in 2009. We have entered into letters of intent to sell our Perma-Fix of Ft. Lauderdale, Inc. (PFFL) and Perma-Fix of Orlando, Inc. (PFO) industrial facilities, subject to due diligence by the buyer, negotiations and execution of definitive agreements and other conditions. If completed, the letter of intent pertaining to the PFFL facility states that the buyer will purchase the facility for $6 million, subject to certain adjustments, and will purchase the PFO facility for $2 million, subject to certain adjustments. This sale would enable us to focus our resources on growing the Nuclear Segment."  

"As we approach 2011, we have a variety of new initiatives under way. Foremost and most near-term is the expansion of our capabilities to handle higher activity waste such as transuranic (TRU) waste. We believe we are uniquely positioned to address this market. We are in the final stages of completing a demonstration at our Perma-Fix Northwest facility to handle this waste stream. In conjunction with our rail spur expansion at this site, we believe that this should enable us to increase this waste stream in 2011. At the same time, we remain focused on expanding our on-site initiatives and broadening the scope of our services to address different aspects of the nuclear fuel cycle."

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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!
DOW 16,723.60 +262.28 1.59%
S&P 500 1,953.95 +26.84 1.39%
NASDAQ 4,455.3560 +72.5090 1.65%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

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