Exhibit 99.1
 

 
 Logo
NEWS RELEASE
For Immediate Release
Contact: Alison Ziegler, Cameron Associates (212) 554-5469
alison@cameronassoc.com     www.americanecology.com

 
AMERICAN ECOLOGY ANNOUNCES RECORD OPERATING INCOME AND DISPOSAL VOLUME FOR FOURTH CONSECUTIVE YEAR

Boise, Idaho – February 11, 2009
– American Ecology Corporation (NASDAQ-GS: ECOL) (“the Company”) today reported operating results for the quarter and year ended December 31, 2008.  Operating income for the fourth quarter of 2008 was $8.3 million, 2% higher than operating income of $8.1 million for the fourth quarter of 2007.  Net income increased 8% to $5.2 million, or $0.29 per diluted share, for the fourth quarter of 2008, up from net income of $4.9 million or $0.27 per diluted share in the fourth quarter last year, and in line with revised 2008 earnings guidance provided by the Company in October 2008.  All four of the Company’s disposal facilities remained profitable.

Revenue for the fourth quarter of 2008 decreased 4% to $44.0 million, down from $45.9 million in the same quarter last year.  This reflects a decline in transportation revenue partially offset by higher treatment and disposal revenue in the fourth quarter of 2008 compared to the fourth quarter of 2007.  “Base” business revenue from recurring customers rose 1% in the fourth quarter of 2008 compared to the same quarter last year on increased shipments from waste broker, refinery and other industry customers.  “Event” remediation business grew 5% in the fourth quarter of 2008 over the same quarter last year on increased broker and refinery business.  Our new thermal desorption recycling service in Texas contributed $2.0 million in revenue from a combination of Base and Event business.  Total volumes disposed at our Idaho, Nevada and Texas waste facilities were 260,000 tons in the fourth quarter of 2008, down 13% from the fourth quarter of 2007.

Gross profit was $12.4 million in the fourth quarter of 2008, up 3% from gross profit of $12.1 million reported in the same quarter last year.  A net reduction in closure and post-closure obligations recorded in the fourth quarter of 2008 increased gross profit by $230,000.

Selling, general and administrative (“SG&A”) expense for the fourth quarter of 2008 was $4.1 million, or 9% of revenue, as compared to $3.9 million, also 9% of revenue, in the same quarter last year.  The $123,000 increase in SG&A expense reflects higher bad debt expense, permit and licensing fees and professional service fees partially offset by lower stock and performance based compensation expenses.

Other income, primarily interest and royalty income, was $169,000 for the fourth quarter of 2008, down from of $241,000 in the fourth quarter of 2007.

Our effective income tax rate for the fourth quarter of 2008 was 38.3%, down from 42% in the fourth quarter of 2007.  The higher tax rate in the fourth quarter last year reflected year end adjustments for higher non-tax-deductible expenses on incentive based stock option awards and deferred taxes.

During the fourth quarter of 2008, the Company expended $2.6 million to repurchase its common stock under the Stock Repurchase Program announced in October 2008.
 
1

The following information was filed by Us Ecology Holdings, Inc. on Wednesday, February 11, 2009 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.

View differences made from one year to another to evaluate Us Ecology Holdings, Inc.'s financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Us Ecology Holdings, Inc..

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator


Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not

Continue

Financial Stability Report


Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity

Continue

Get a Better Picture of a Company's Performance


Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years

Continue

Log in with your credentials

or    

Forgot your details?

Create Account