Annual report pursuant to section 13 and 15(d)

QUARTERLY OPERATING RESULTS (UNAUDITED)

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QUARTERLY OPERATING RESULTS (UNAUDITED)
 12 Months Ended
Dec. 31, 2012
QUARTERLY OPERATING RESULTS (UNAUDITED) [Abstract]  
QUARTERLY OPERATING RESULTS (UNAUDITED)
NOTE 17
QUARTERLY OPERATING RESULTS (UNAUDITED)
 
Unaudited quarterly operating results are summarized as follows (in thousands, except per share data). The effect of the restatement as noted in Note 1A – "Restatement of Consolidated Financial Statements" – impacted only the fourth quarter of each of the years noted below. Net income attributable to non-controlling interests are excluded from (loss) income from continuing operations in the below earning (loss) per share calculation in accordance with ASC 260, "Earnings Per Share:"

  
March 31
    
June 30
    
Sept 30
    
Dec. 31
  
2012
                    
(Restated)
  
Net revenues
  
$
37,936
    
$
33,698
    
$
29,190
    
$
26,684
  
Gross profit
    
4,369
      
3,930
      
4,226
      
3,279
  
Loss from continuing operations
    
(807
)
    
(1,009
)
    
(472
)
    
(861
)
(Loss) income from discontinued operations, net of taxes
    
(138
)
    
(60
)
    
(61
)
    
229
  
Net loss
    
(945
)
    
(1,069
)
    
(533
)
    
(632
)
Net income attributable to noncontrolling interest
    
56
      
102
      
21
      
1
  
Net loss attributable to Perma-Fix Environmental Services, Inc. common stockholders
    
(1,001
)
    
(1,171
)
    
(554
)
    
(633
)
 
                                
Basic net (loss) income per common share attributable to Perma-Fix Environmental Services, Inc. stockholders:
                                
Continuing operations
    
(.08
)
    
(.10
)
    
(.04
)
    
(.08
)
Discontinued operations
    
(.01
)
    
—
      
(.01
)
    
.02
  
Net (loss) income per common share
    
(.09
)
    
(.10
)
    
(.05
)
    
(.06
)
 
                                
Diluted net (loss) income per common share attributable to Perma-Fix Environmental Services, Inc. stockholders:
                                
Continued operations
    
(.08
)
    
(.10
)
    
(.04
)
    
(.08
)
Discontinued operations
    
(.01
)
    
—
      
(.01
)
    
.02
  
Net (loss) income per common share
    
(.09
)
    
(.10
)
    
(.05
)
    
(.06
)

 
  
March 31
    
June 30
    
Sept 30
    
Dec. 31
  
2011
                    
(Restated)
  
Net revenues
  
$
23,615
    
$
28,913
    
$
32,787
    
$
32,782
  
Gross profit
    
3,030
      
8,049
      
11,301
      
6,040
  
(Loss) income from continuing operations
    
(533
)
    
2,552
      
4,421
      
(41
)
Income (loss) from discontinued operations, net of taxes
    
212
      
(32
)
    
(187
)
    
189
  
Gain (loss) on disposal of discontinued operations, net of taxes
    
—
      
—
      
1,777
      
(268
)
Net (loss) income
    
(321
)
    
2,520
      
6,011
      
(120
)
Net income attributable to noncontrolling interest
    
—
      
—
      
—
      
22
  
Net (loss) income attributable to Perma-Fix Environmental Services, Inc. common stockholders
    
(321
)
    
2,520
      
6,011
      
(142
)
 
                                
 
                                
Basic net (loss) income per common share attributable to Perma-Fix Environmental Services, Inc. stockholders:
                                
Continuing operations
    
(.05
)
    
.23
      
.40
      
—
  
Discontinued operations
    
.02
      
—
      
(.02
)
    
.01
  
Gain on disposal of discontinued operations, net of taxes
    
—
      
—
      
.16
      
(.02
)
Net (loss) income per common share
    
(.03
)
    
.23
      
.54
      
(.01
)
 
                                
Diluted net (loss) income per common share attributable to Perma-Fix Environmental Services, Inc. stockholders:
                                
Continued operations
    
(.05
)
    
.23
      
.40
      
—
  
Discontinued operations
    
.02
      
—
      
(.02
)
    
.01
  
Gain on disposal of discontinued operations, net of taxes
    
—
      
—
      
.16
      
(.02
)
Net (loss) income per common share
    
(.03
)
    
.23
      
.54
      
(.01
)

The sum of the quarterly earnings per common share amounts may not equal the annual amount reported because per share amounts are computed independently for each quarter and for the full year based on respective weighted-average common shares outstanding and other dilutive potential common shares.
 
For following table summarizes the impact of the restatement on each affected line of the selected quarterly financial data resulting from the restatement as discussed in "Note 1A – Restatement of Consolidated Financial Statements (in thousands, except per share data). As noted above, the restatement impacted only the fourth quarters of 2012 and 2011.

 
 
 
As Reported
 
 
Adjustment
 
 
As Restated
For the quarter ended December 31, 2012
 
 
 
 
 
 
 
 
 
(Loss) income from continuing operations
 
$
 (4,262)
 
$
 3,401
 
$
 (861)
Income (loss) from discontinued operations, net of taxes
 
 
 717
 
 
 (488)
 
 
 229
Net (loss) income
 
 
 (3,545)
 
 
 2,913
 
 
 (632)
Net (loss) income attributable to Perma-Fix Environmental
 
 
 
 
 
 
 
 
 
Services, Inc. common stockholders
 
 
 (3,546)
 
 
 2,913
 
 
 (633)
 
 
 
 
 
 
 
 
 
 
Basic net (loss) income per common share attributable to
 
 
 
 
 
 
 
 
 
Perma-Fix Environmental Services, Inc. stockholders:
 
 
 
 
 
 
 
 
 
Continuing operations
 
 
(.38)
 
 
 .30
 
 
(.08)
Discontinued operations
 
 
 .06
 
 
(.04)
 
 
 .02
Net (loss) income per common share
 
 
(.32)
 
 
 .26
 
 
(.06)
 
 
 
 
 
 
 
 
 
 
Diluted net (loss) income per common share attributable to
 
 
 
 
 
 
 
 
 
Perma-Fix Environmental Services, Inc. stockholders:
 
 
 
 
 
 
 
 
 
Continuing operations
 
 
(.38)
 
 
 .30
 
 
(.08)
Discontinued operations
 
 
 .06
 
 
(.04)
 
 
 .02
Net (loss) income per common share
 
 
(.32)
 
 
 .26
 
 
(.06)
 
 
 
 
 
 
 
 
 
 
 
 
 
As Reported
 
 
Adjustment
 
 
As Restated
For the quarter ended December 31, 2011
 
 
 
 
 
 
 
 
 
Income (loss) from continuing operations
 
$
 5,132
 
$
 (5,173)
 
$
 (41)
Income (loss) from discontinued operations, net of taxes
 
 
 784
 
 
 (595)
 
 
 189
Net income (loss)
 
 
 5,648
 
 
 (5,768)
 
 
 (120)
Net income (loss) attributable to Perma-Fix Environmental
 
 
 
 
 
 
 
 
 
Services, Inc. common stockholders
 
 
 5,626
 
 
 (5,768)
 
 
 (142)
 
 
 
 
 
 
 
 
 
 
Basic net income (loss) per common share attributable to
 
 
 
 
 
 
 
 
 
Perma-Fix Environmental Services, Inc. stockholders:
 
 
 
 
 
 
 
 
 
Continuing operations
 
 
 .46
 
 
(.46)
 
 
 —
Discontinued operations
 
 
 .07
 
 
(.06)
 
 
 .01
Net income (loss) per common share
 
 
 .51
 
 
(.52)
 
 
(.01)
 
 
 
 
 
 
 
 
 
 
Diluted net income (loss) per common share attributable to
 
 
 
 
 
 
 
 
 
Perma-Fix Environmental Services, Inc. stockholders:
 
 
 
 
 
 
 
 
 
Continuing operations
 
 
 .46
 
 
(.46)
 
 
 —
Discontinued operations
 
 
 .07
 
 
(.06)
 
 
 .01
Net income (loss) per common share
 
 
 .51
 
 
(.52)
 
 
(.01)