Cash $629 +$25,591.14 +4.55% S&P +1.88%
Now 101
11/02/2023 12:00:15 Sold 3 PEP @ 166.8 500.40
Now 575
11/02/2023 11:48:20 Bought 25 PESI @ 8.15 -203.75
11/02/2023 11:56:49 Bought 25 PESI @ 8.01 -200.25
Think the market expected too much too soon. Up against a quarter last year where the government
dropped 2 million in free money on them. Seeing numerous places .55 for 2024. Zacks has $2.07 for 2025.
Mark Duff, President and CEO of the Company, commented, "I am pleased to report another solid quarter,
as we achieved an 18.4% increase in revenue to $21.9 million, a 48.2% increase in gross profit, net income
of $341,000 and $1.2 million of EBITDA (as defined below) for the third quarter of 2023.
Mr. Duff continued, "While we achieved strong year-over-year growth, we believe we would have generated
even stronger results if not for certain temporary customer delays in our Treatment and Services Segments,
which is not unusual in our business. Nevertheless, these projects have since commenced, which we
believe will contribute to improved results for the fourth quarter of 2023.
Gross profit for the third quarter of 2023 was $4.5 million versus $3.1 million for the third quarter of 2022.
Operating income was approximately $496,000 versus an operating loss of approximately $928,000 for the
third quarter of 2022. Net income for the third quarter of 2023 was approximately $341,000, or $.03 per
basic share, as compared to net income of $664,000, or $.05 per basic share, for the third quarter of 2022.
Net income for the third quarter of 2022 included an income recorded in the amount of approximately
$2.0 million (within other income and current other receivables), that represented a refundable tax credit
against the Company's share of certain payroll taxes as permitted by the Employee Retention Credit
("ERC") program under the Coronavirus Aid, Relief and Economic Securities Act ("CARES Act"), as
amended.
The Company achieved EBITDA of $1.2 million from continuing operations during the quarter ended
September 30, 2023, and Adjusted EBITDA of ($374,000) for the same period of 2022. There were no
adjustments to EBITDA for the 2023 third quarter |
