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16.03.2017 22:05
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PR Newswire
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Avalon Holdings Corporation Announces 2016 Full Year And Fourth Quarter Results
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PR Newswire
WARREN, Ohio, March 16, 2017
WARREN, Ohio, March 16, 2017 /PRNewswire/ -- Avalon Holdings Corporation (NYSE Amex: AWX) today announced financial results for the fiscal year and fourth quarter ended December 31, 2016.
Net operating revenues in the fourth quarter of 2016 were $15.6 million compared with $13.9 million in the fourth quarter of 2015. The Company incurred a net loss attributable to Avalon Holdings Corporation common shareholders of $0.4 million in the fourth quarter of 2016 compared with a net loss attributable to Avalon Holdings Corporation common shareholders of $0.2 million in the fourth quarter of 2015. For the fourth quarter of 2016, basic net loss per share attributable to Avalon Holdings Corporation common shareholders was $0.10 compared with a basic net loss per share attributable to Avalon Holdings Corporation common shareholders of $0.05 in the fourth quarter of 2015.
For the year ended December 31, 2016, net operating revenues were $61.4 million compared with $53.1 million for the year ended December 31, 2015. The Company incurred a net loss attributable to Avalon Holdings Corporation common shareholders of $0.1 million for the year ended December 31, 2016 compared with a net loss attributable to Avalon Holdings Corporation common shareholders of $0.7 million for the year ended December 31, 2015. For the year ended December 31, 2016, basic net loss per share attributable to Avalon Holdings Corporation common shareholders was $0.02 compared with a basic net loss per share attributable to Avalon Holdings Corporation common shareholders of $0.19 for year ended December 31, 2015.
Avalon Holdings Corporation provides waste management services to industrial, commercial, municipal and governmental customers in selected northeastern and midwestern U.S. markets, captive landfill management services and salt water injection well operations. Avalon Holdings Corporation also owns Avalon Resorts and Clubs Inc., which includes the operation of a hotel and its associated amenities, three golf courses and related country clubs and facilities.
| AVALON HOLDINGS CORPORATION AND SUBSIDIARIES | |||||||
| Condensed Consolidated Statements of Operations (Unaudited) | |||||||
| (in thousands, except for per share amounts) | |||||||
| | | | | | | | |
| | | | | | | | |
| | Three Months Ended | | Year Ended | ||||
| | December 31, | | December 31, | ||||
| | 2016 | | 2015 | | 2016 | | 2015 |
| | | | | | | | |
| Net operating revenues | $ 15,578 | | $ 13,858 | | $ 61,352 | | $ 53,090 |
| | | | | | | | |
| Costs and expenses: | | | | | | | |
| Costs of operations | 12,912 | | 11,459 | | 50,519 | | 44,197 |
| Depreciation and amortization expense | 723 | | 724 | | 2,816 | | 2,560 |
| Selling, general and administrative expenses | 2,338 | | 1,910 | | 8,203 | | 7,635 |
| Operating loss | (395) | | (235) | | (186) | | (1,302) |
| | | | | | | | |
| Other income (expense): | | | | | | | |
| Interest expense | (106) | | (80) | | (379) | | (147) |
| Other income, net | 63 | | 49 | | 281 | | 286 |
| Loss before income taxes | (438) | | (266) | | (284) | | (1,163) |
| | | | | | | | |
| Provision for income taxes | 46 | | 17 | | 125 | | 59 |
| Net loss | (484) | | (283) | | (409) | | (1,222) |
| | | | | | | | |
| Less net loss attributable to non-controlling interest in subsidiary | (96) | | (87) | | (340) | | (510) |
| Net loss attributable to Avalon Holdings Corporation common shareholders | $ (388) | | $ (196) | | $ (69) | | $ (712) |
| | | | | | | | |
| Loss per share attributable to Avalon Holdings Corporation common shareholders | | | | | | | |
| Basic and diluted net loss per share | $ (0.10) | | $ (0.05) | | $ (0.02) | | $ (0.19) |
| | | | | | | | |
| Weighted average shares outstanding - basic | 3,803 | | 3,803 | | 3,803 | | 3,803 |
| Weighted average shares outstanding - diluted | 3,803 | | 3,803 | | 3,803 | | 3,803 |
| | | | | | | | |
| AVALON HOLDINGS CORPORATION AND SUBSIDIARIES | |||
| Condensed Consolidated Balance Sheets (Unaudited) Werbung Mehr Nachrichten zur Avalon Holdings Aktie kostenlos abonnieren
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