HIGHLANDS RANCH, Colo., Nov. 7, 2013 (GLOBE NEWSWIRE) -- Advanced Emissions Solutions, Inc. (Nasdaq:ADES) ("the Company") today announced financial results for the third quarter ended September 30, 2013.
- Third quarter earnings of $1.6 million, or $0.16 per diluted share compared to a net loss of $3.9 million or $0.39 per diluted share for third quarter of 2012.
- Record Emission Control ("EC") backlog and revenues -- Backlog of $56.6 million up from $33.2 million at June 30, 2013. -- Revenues of $14.5 million more than tripled from the third quarter of 2012 and were up more than 20% from the second quarter of 2013.
- Refined Coal ("RC") rental and other income of $20.3 million, up more than 80% from the third quarter of 2012 and 63% from the second quarter of 2013. RC facilities operated by the Clean Coal Solutions, LLC ("Clean Coal") joint venture generated $6.8 million in credits during the quarter to be used to offset future taxes (the Company's wholly owned subsidiary, ADA-ES Inc. ("ADA"), owns 42.5% of Clean Coal).
- Two additional RC facilities leased to investors in the quarter, significant progress with investors and utilities for additional RC facilities. The Company expects to have all 28 RC facilities in full-time operation by the end of 2014.