- Total revenues increased to $52.5 million from $7.0 million in the second quarter of 2011, primarily due to the operations at 7 Refined Coal (“RC”) facilities and RC sales from the 4 facilities operated for our own account.
- Gross margin was $7.4 million, or 14% of revenues, compared to $5.2 million, or 74% of revenues for the same period in 2011, due to the impact of RC coal sales and raw coal purchases in the 2012 second quarter. Excluding the impact of RC coal sales and raw coal purchases from the 4 RC facilities operated for our own account, gross margin in the second quarter of 2012 was 81%.
- Operating income was $1.6 million, compared to an operating loss of $2.3 million for the second quarter of 2011.
- Pre-tax income from continuing operations improved to $0.9 million from a loss of $2.5 million in the second quarter of 2011.
- Net loss was $2.6 million, or $0.26 per diluted share, and included:
- $0.9 million in interest expense and royalty payments
- $1.3 million in income tax expense based on the estimated effective income tax rate for 2012
- $2.2 million deduction for non-controlling interests
- Clean Coal Solutions, LLC (“Clean Coal”) generated $7.5 million in tax credits from the operations of four RC facilities.
- Cash and cash equivalents were $23.1 million at June 30, 2012.
ADA-ES Reports Second Quarter 2012 Results
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts