Print
Email
Avalon Holdings Corp (AWX) filed Quarterly Report for the period ended 2010-06-30.
Avalon Holdings Corp has a market cap of $8.2 million; its shares were traded at around $2.57 with and P/S ratio of 0.2.
This is the annual revenues and earnings per share of AWX over the last 10 years. For detailed 10-year financial data and charts, go to 10-Year Financials of AWX.
Highlight of Business Operations:
Net operating revenues in the second quarter of 2010 increased to $12.1 million from $8.4 million in the prior year’s second quarter. The increase is primarily the result of a significant increase in the net operating revenues of the waste management services segment. Costs of operations increased to $9.8 million in the second quarter of 2010 compared with $6.8 million in the prior year’s second quarter. The increase is primarily due to the increase in net operating revenues of the waste management services segment, which resulted in higher transportation and disposal costs, as these costs vary directly with the associated net operating revenues. Fixed costs relating to depreciation and amortization expense were $.4 million in both the second quarter of 2010 and 2009. Consolidated selling, general and administrative expenses increased to $1.8 million in the second quarter of 2010 compared with $1.5 million in the second quarter of 2009 primarily due to an increase in sales and management bonus incentives of the waste management services segment and compensation costs relating to stock options granted. Avalon incurred a net loss of $12,000, or $.01 per share, in the second quarter of 2010 compared with net loss of $.3 million or $.07 per share, in the second quarter of 2009.
For the first six months of 2010, net operating revenues increased to $20.4 million from $17.2 million for the first six months of 2009. The increase is primarily the result of a significant increase in the net operating revenues of the waste management services segment. Costs of operations were $16.8 million for the first six months of 2010 compared with $14.1 million for the first six months of 2009. The increase is primarily due to the increase in net operating revenues of the waste management services segment, which resulted in higher transportation and disposal costs as these costs vary directly with the associated net operating revenues. Fixed costs relating to depreciation and amortization expense were $.8 million for both the first six months of 2010 and 2009. Consolidated selling, general and administrative expenses increased to $3.4 million for the first six months of 2010 compared with $3.1 million for the first six months of 2009 primarily due to an increase in sales and management bonus incentives of the waste management services segment and compensation costs relating to stock options granted in the first quarter of 2010. Avalon incurred a net loss of $.6 million, or $.16 per share, for the first six months of 2010 compared with a net loss of $.7 million, or $.18 per share, for the first six months of 2009.
Net operating revenues of the waste management services segment increased approximately 65% to $9.3 million in the second quarter of 2010 compared with $5.6 million in the second quarter of the prior year. For the second quarter of 2010, net operating revenues of the waste brokerage and management services business were $8.6 million compared with $5.1 million in the second quarter of 2009, while the net operating revenues of the captive landfill management operations were $.7 million compared with $.5 million. The increase in the net operating revenues of the waste brokerage and management services business was primarily due to an increase of 152% in event or one-time projects and a 15% increase in continuous work. The increase in event work was due to an increase in the number of projects won in the second quarter of 2010 compared with the second quarter of 2009. Event work is defined as bid projects under contract that occurs on a one-time basis over a short period of time and can fluctuate significantly from quarter to quarter. The increase in net operating revenues of the captive landfill operations was primarily due to an increase in the sales of construction mats and an increase in the volume of waste disposed of at the landfill during the second quarter of 2010 compared to the prior year second quarter. The volume of waste disposed of at the captive landfill is entirely dependent upon the amount of waste generated by the owner of the landfill for whom Avalon manages the facility.
Due to the significant increase in net operating revenues, income before taxes for the waste management services segment increased to $.8 million in the second quarter of 2010 compared with $.4 million in the second quarter of the prior year. Income before taxes of the waste brokerage and management services business was $.7 million for the second quarter of 2010 compared with $.3 million for the second quarter of 2009. Income before taxes of the captive landfill operations was $.1 million in both the second quarter of 2010 and 2009.
Net operating revenues of the waste management services segment increased to $16.0 million in the first six months of 2010 compared with $12.9 million in the first six months of the prior year. For the first six months of 2010, net operating revenues of the waste brokerage and management services business were $14.7 million compared with $11.8 million for the first six months of 2009, while the net operating revenues of the captive landfill management operations were $1.3 million for the first six months of 2010 compared with $1.1 million for the prior year period. The increase in net operating revenues of the waste brokerage and management services business was primarily the result of a 60% increase in event or one-time work. Net operating revenues from continuous work were flat for the first six months of 2010 compared with the first six months of the prior year. The increase in event work was primarily due to an increase in the number of projects won for the first six months of 2010 compared with the same period in 2009. Net operating revenues of the captive landfill management operations increased in the first six months of 2010 compared with the first six months of 2009 primarily as a result of an increase in the sales of construction mats and to a lesser extent an increase in the amount of waste disposed
of at the landfill and an increase in additional work performed on miscellaneous projects. Income from operations before taxes for the waste management services segment increased to $1.3 million in the first six months of 2010 compared with $1.0 million in the first six months of the prior year. The increase is primarily due to the significant increase in net operating revenues of the waste brokerage and management services business. Income before taxes of the waste brokerage and management services business was $1.0 million for the first six months of 2010 compared with $.7 million for the first six months of 2009. Income before taxes of the captive landfill operations was $.3 million in both the first six months of 2010 and 2009.
Subscribe RSS
