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Adaes Inc (1223112) SEC Filing 10-Q Quarterly report for the period ending Saturday, March 31, 2012

Adaes Inc

CIK: 1223112

Exhibit 99.1

 

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FOR IMMEDIATE RELEASE

ADA-ES REPORTS FIRST QUARTER 2012 RESULTS

Company Reiterates Annualized Revenue and Pre-tax Income Projections of

Approximately $100 million and $50 million

Highlands Ranch, ColoradoMay 8, 2012 – ADA-ES, Inc. (NASDAQ:ADES) (“ADA”) today announced financial results for the first quarter ended March 31, 2012.

OVERVIEW OF 2012 FIRST QUARTER RESULTS

 

   

Total revenues increased 115% to $18.2 million from $8.5 million in the first quarter of 2011, primarily due to the operations of two Refined Coal (“RC”) facilities and RC sales.

 

   

Gross margin was $4.0 million or 22% of revenues for the first quarter of 2012, compared to $7.2 million, or 85% of revenues for the same period in 2011, due to raw coal purchases, operating costs for retained RC production and increased activity in the Emission Control segment.

 

   

Operating loss of $1.2 million for the first quarter of 2012, compared to operating income of $1.9 million for the same period in 2011.

 

   

Net loss of $1.4 million, or $0.14 per diluted share for the first quarter of 2012, compared to a net loss of $27.5 million, or $3.63 per diluted share in the first quarter of 2011, which included litigation settlement costs, legal and other expenses totaling, before tax, approximately $41.4 million.

 

   

Cash and cash equivalents of $28.3 million at March 31, 2012.

OVERVIEW OF SEGMENTS & OUTLOOK

Dr. Michael D. Durham, President and CEO of ADA stated, “The significant increase in revenues for the first quarter of 2012 was due primarily to contributions from our RC segment. We are also happy with the progress and outlook of Emission Control, which should continue to benefit from ongoing industry analysis and assessment of the Mercury and Air Toxics Standard (“MATS”) regulation.”


The following information was filed by Adaes Inc on Tuesday, May 8, 2012 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Definitive Proxy Statement (Form DEF 14A)
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Adaes Inc's Definitive Proxy Statement (Form DEF 14A) filed after their 2012 10-K Annual Report includes:

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SEC Filing Tools
CIK: 1223112
Form Type: 10-Q Quarterly Report
Accession Number: 0001193125-12-225563
Submitted to the SEC: Thu May 10 2012 4:15:06 PM EST
Accepted by the SEC: Thu May 10 2012
Period: Saturday, March 31, 2012
Industry: Miscellaneous Chemical Products

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