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April 15, 2014
07:37 EDTPESIPerma-fix reports Q4 EPS ($2.75), may not be comparable to consensus (1c)
Reports Q4 revenue $12.7M, one estimate $16.98M. Q4 EPS includes goodwill impairment charge of $26.7M. CEO Louis Centofanti stated, "2013 was a challenging year due to reduced government spending and two large projects that consumed a significant portion of the Department of Energy budget. In response to these challenges, we dramatically reduced our fixed expenses in 2013. Although we continued to feel the effects of delayed government spending in the first quarter of 2014, we are finally seeing a gradual improvement in waste shipments beginning in the second quarter of 2014. We expect to see continued improvement in the balance of the second quarter, and even more so in third quarter of 2014 due to an increase in the DOE's 2014 budget, which was only recently approved... We are optimistic the new DOE budget will translate to increased spending on discretionary projects, including waste treatment. With the Congressional budget now resolved, we also believe that the DOE will begin awarding service contracts that have been delayed, and we believe that we are very well positioned on a number of these projects."
News For PESI From The Last 14 Days
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January 21, 2015
08:32 EDTPESIPerma-fix Environmental awarded $2.7M grant
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January 15, 2015
07:33 EDTPESIPerma-fix unit enters into LOI to form strategic partnership with Digirad
Perma-Fix Environmental Services (PESI) announced that its Polish subsidiary, Perma-Fix Medical, S.A., has entered into a preliminary Letter of Intent to form a strategic partnership and secure investment from Digirad Corporation (DRAD), a national provider of in-office nuclear cardiology imaging services. Under the Agreement, Digirad Corporation will invest $1M into Perma-Fix Medical, which is a publicly traded company listed on the NewConnect market of the Warsaw Stock Exchange. The investment, when completed, would constitute approximately 5.4% of the outstanding common shares of Perma-Fix Medical. When completed, Digirad will have the right to appoint one member to Perma-Fix Medical's Supervisory Board, and a second appointee to either the Supervisory Board or the management team. The investment and agreements with Digirad are subject to numerous conditions, including, but not limited to, entering into definitive supply, stock purchase and other agreements, approval by the Boards of Perma-Fix and Digirad and obtaining required approvals by Polish regulatory authorities as to issuance of the shares to Digirad. In connection with the Agreement, Digirad will assist Perma-Fix Medical in the development of and commercialization of Perma Fix Medical's proprietary process to produce Tc-99m without the use of uranium, as well as provide its expertise in the medical imaging business. Upon commencement of Tc-99m production, Perma-Fix Medical will supply Digirad with Tc-99m at a preferred rate.

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