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13.05.2016 23:10
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PR Newswire
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Avalon Holdings Corporation Announces First Quarter Results
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PR Newswire
WARREN, Ohio, May 13, 2016
WARREN, Ohio, May 13, 2016 /PRNewswire/ -- Avalon Holdings Corporation (NYSE Amex:AWX) today announced financial results for the first quarter of 2016.
Net operating revenues in the first quarter of 2016 were $11.0 million compared with $10.7 million in the first quarter of 2015. The Company incurred a net loss attributable to Avalon Holdings Corporation common shareholders of $0.9 million in the first quarter of 2016 compared with a net loss attributable to Avalon Holdings Corporation common shareholders of $1.0 million in the first quarter of 2015. For the first quarter of 2016, basic net loss per share attributable to Avalon Holdings Corporation common shareholders was $0.24 compared with a basic net loss per share attributable to Avalon Holdings Corporation common shareholders of $0.27 in the first quarter of 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 the Avalon Golf and Country Club, which includes the operation of golf courses, country clubs and related facilities and The Avalon Inn which operates a hotel and related amenities offered by the facility.
| AVALON HOLDINGS CORPORATION AND SUBSIDIARIES | ||||
| Condensed Consolidated Statements of Operations (Unaudited) | ||||
| (in thousands, except for per share amounts) | ||||
| | | | | |
| | | | | |
| | Three Months Ended | | ||
| | March 31, | | ||
| | 2016 | | 2015 | |
| | | | | |
| Net operating revenues | $ 10,999 | | $ 10,700 | |
| | | | | |
| Costs and expenses: | | | | |
| Costs of operations | 9,423 | | 9,307 | |
| Depreciation and amortization expense | 686 | | 638 | |
| Selling, general and administrative expenses | 1,866 | | 2,034 | |
| Operating loss | (976) | | (1,279) | |
| | | | | |
| Other income (expense): | | | | |
| Interest expense | (87) | | (5) | |
| Other income, net | 72 | | 72 | |
| Loss before income taxes | (991) | | (1,212) | |
| | | | | |
| Provision for income taxes | 9 | | 7 | |
| Net loss | (1,000) | | (1,219) | |
| | | | | |
| Less net loss attributable to non-controlling interest in subsidiary | (92) | | (179) | |
| Net loss attributable to Avalon Holdings Corporation common shareholders | $ (908) | | $ (1,040) | |
| | | | | |
| Loss per share attributable to Avalon Holdings Corporation common shareholders | | | | |
| Basic and diluted net loss per share | $ (0.24) | | $ (0.27) | |
| | | | | |
| Weighted average shares outstanding - basic and diluted | 3,803 | | 3,803 | |
| AVALON HOLDINGS CORPORATION AND SUBSIDIARIES | |||
| Condensed Consolidated Balance Sheets (Unaudited) | |||
| (in thousands) | |||
| | | | |
| | | | |
| | March 31, | | December 31, |
| | 2016 | | 2015 |
| Assets | | | |
| Current Assets: | | | |
| Cash and cash equivalents | $ 1,248 | | $ 1,814 |
| Accounts receivable, net | 8,749 | | 9,579 |
| Inventories | 856 | | 830 |
| Prepaid expenses | 462 | | 487 |
| Refundable income taxes | 15 | | 33 |
| Other current assets | 35 | | 45 |
| Total current assets | 11,365 | | 12,788 |
| | | | |
| Property and equipment, net | 43,702 | | 43,386 |
| Leased property under capital leases, net | 5,938 | | 6,042 |
| Noncurrent deferred tax asset | 8 | | 8 |
| Other assets, net | 78 Werbung Mehr Nachrichten zur Avalon Holdings Aktie kostenlos abonnieren
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