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Adaes Inc (1223112) SEC Filing 10-K Annual report for the fiscal year ending Monday, December 31, 2012

Adaes Inc

CIK: 1223112

Exhibit 99.1

 

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FOR IMMEDIATE RELEASE

ADA-ES REPORTS 2012 FOURTH QUARTER AND YEAR END RESULTS

Highlands Ranch, CO – March 14, 2013 – ADA-ES, Inc. (NASDAQ:ADES) (“ADA”) today announced financial results for the fourth quarter and year ended December 31, 2012.

OVERVIEW OF 2012 FOURTH QUARTER RESULTS

 

   

Threefold increase in revenues from lease payments related to our Refined Coal (“RC”) facilities. In the quarter, RC facilities operated by ADA’s Clean Coal Solutions, LLC (“Clean Coal”) generated $13.3 million in credits to be used to offset future taxes.

 

   

A 40% increase in Emission Control (“EC”) revenues. EC backlog as of December 31, 2012 increased to $25.3 million, up from $4.5 million at June 30, 2012 and $736,000 at December 31, 2011.

 

   

Consolidated gross margin of $4.6 million, or 7% of revenues compared to $4.7 million or 19% of revenue in 2011. The lower margin percentage in 2012 is due to inclusion of coal purchases and sales and operating costs associated with RC facilities operated for Clean Coal’s own account (“retained tons”). 2012 fourth quarter gross margin excluding coal sales and purchases and operating costs for retained tons was 69%.

 

   

For the 4th quarter, our net loss was $5.4 million or $0.54 per diluted share as compared to a net income of $17.2 million or $1.90 per diluted share for 2011 which included a non-cash $20.0 million gain for the settlement of an indemnity claim.

OVERVIEW OF 2012 RESULTS

 

   

An 83% increase in revenues from lease payments related to our RC facilities. In 2012, RC facilities operated by Clean Coal generated $38.6 million in credits to be used to offset future taxes.

 

   

Gross margin of $20 million or 9% of revenues compared to $24.4 million or 46% of revenues in 2011. The 2012 gross margin excluding coal sales and purchases and operating costs for retained tons was 74%.

 

   

For the year, our net loss was $13.1 million or $1.31 per diluted share as compared to a net loss of $22.8 million or $2.85 per diluted share for 2011.


The following information was filed by Adaes Inc on Thursday, March 14, 2013 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Financial Statements, Disclosures and Schedules

Inside this 10-K Annual Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Changes In Stockholders' Equity (deficit)
Consolidated Statements Of Operations
Acquisition Of Assets By Bcsi
Acquisition Of Assets By Bcsi (tables)
Acquisition Of Assets By Bcsi - Additional Information (detail)
Acquisition Of Bcsi (detail)
Amortization Expense Of Intangible Assets (detail)
Annual Minimum Commitments Under Leases (detail)
Business Segment Information
Business Segment Information (detail)
Business Segment Information (tables)
Clean Coal Leasing Activities
Clean Coal Leasing Activities (tables)
Clean Coal Leasing Activities - Additional Informations (detail)
Commitments And Contingencies
Commitments And Contingencies (detail)
Commitments And Contingencies (tables)
Commitments And Contingencies - Additional Information (detail)
Company's Receivables (detail)
Contributions To Plan In Form Of Cash And Its Common Stock (detail)
Deferred Revenue And Deposits
Deferred Revenue And Deposits (detail)
Deferred Revenue And Deposits (tables)
Deferred Revenue And Deposits - Additional Information (detail)
Deferred Tax Assets And Liabilities (detail)
Development And License Agreement And Execution Of Securities Subscription And Investment Agreement (detail)
Equity Compensation To Employees At Estimated Fair Value (detail)
Expense Recognized Under Different Plans (detail)
Government And Industry Funded Contracts
Government And Industry Funded Contracts (detail)
Government And Industry Funded Contracts (tables)
Income Tax Benefit (expense) From Continuing Operations (detail)
Income Taxes
Income Taxes (tables)
Income Taxes - Additional Information (detail)
Intangible Assets Principally Consists Of Patents (detail)
Intrinsic Value Of Stock Options Exercised And Exercisable (detail)
Investment In Unconsolidated Entity (detail)
Investments In Unconsolidated Entities
Investments In Unconsolidated Entities (tables)
Investments In Unconsolidated Entities - Additional Information (detail)
Joint Venture Investment In Clean Coal
Joint Venture Investment In Clean Coal (tables)
Joint Venture Investment In Clean Coal - Additional Information (detail)
Major Customers
Major Customers (tables)
Notes Payable Maturity (detail)
Penalties And Interest Costs (detail)
Promissory Notes Executed In Conjunction With Acquisition Of Bcsi (detail)
Promissory Notes Executed In Conjunction With Acquisition Of Bcsi (parenthetical) (detail)
Property And Equipment
Property And Equipment (detail)
Property And Equipment (tables)
Receivables (detail)
Reconciliation Of Expected Federal Income Taxes At Statutory Rates (detail)
Reconciliation Of Reported Total Segment Profit To Net Income (detail)
Related Party Transactions
Related Party Transactions (tables)
Related Party Transactions - Additional Informations (detail)
Rental Expense Incurred (detail)
Restatements
Restatements - Additional Information (detail)
Revenue Recognition (detail)
Sales To Unaffiliated Customers (detail)
Schedule, By Year, Of Total Fixed Lease Payments To Be Received, If All Term Extension Options Are Exercised (detail)
Stock Options Outstanding And Exercisable (detail)
Stockholders Deficit - Additional Information (detail)
Stockholders' Deficit
Stockholders' Deficit (tables)
Summary Assets And Liabilities Of Operations Of Clean Coal (detail)
Summary Of Activity Under Various Stock Issuance Plans (detail)
Summary Of Nature Of Operations And Significant Accounting Policies
Summary Of Nature Of Operations And Significant Accounting Policies (policies)
Summary Of Nature Of Operations And Significant Accounting Policies (tables)
Summary Of Nature Of Operations And Significant Accounting Policies - Additional Information (detail)
Summary Of Option Activity (detail)
Summary Of Status Of Non - Vested Shares (detail)
Temporary Equity Subject To Possible Redemption
Temporary Equity Subject To Possible Redemption - Additional Information (detail)
Unrecognized Expense Under Different Plans (detail)
CIK: 1223112
Form Type: 10-K Annual Report
Accession Number: 0001193125-13-112439
Submitted to the SEC: Mon Mar 18 2013 3:51:15 PM EST
Accepted by the SEC: Mon Mar 18 2013
Period: Monday, December 31, 2012
Industry: Miscellaneous Chemical Products

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