Annual report pursuant to section 13 and 15(d)

CONSOLIDATED BALANCE SHEETS

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CONSOLIDATED BALANCE SHEETS (USD $)
Dec. 31, 2013
Dec. 31, 2012
Current assets:    
Cash $ 333,000 $ 4,368,000
Restricted cash 35,000 35,000
Accounts receivable, net of allowance for doubtful accounts of $1,932 and $2,507, respectively 8,106,000 11,395,000
Unbilled receivables - current 4,917,000 8,530,000
Retainage receivable 135,000 312,000
Inventories 520,000 473,000
Prepaid and other assets 2,949,000 3,282,000
Deferred tax assets -current 0 1,316,000
Current assets related to discontinued operations 3,114,000 499,000
Total current assets 20,109,000 30,210,000
Property and equipment:    
Buildings and land 19,486,000 26,297,000
Equipment 35,279,000 34,657,000
Vehicles 610,000 661,000
Leasehold improvements 11,625,000 11,625,000
Office furniture and equipment 2,046,000 2,116,000
Construction-in-progress 630,000 334,000
Total property and equipment 69,676,000 75,690,000
Less accumulated depreciation and amortization (43,616,000) (40,376,000)
Net property and equipment 26,060,000 35,314,000
Property and equipment related to discontinued operations 1,367,000 1,614,000
Intangibles and other long term assets:    
Permits 16,744,000 16,799,000
Goodwill 1,330,000 29,186,000
Other intangible assets - net 2,980,000 3,610,000
Unbilled receivables - non-current 302,000 137,000
Finite risk sinking fund 21,307,000 21,272,000
Other assets 1,401,000 1,549,000
Total assets 91,600,000 [1] 139,691,000 [1]
Current liabilities:    
Accounts payable 5,462,000 8,657,000
Accrued expenses 4,933,000 6,672,000
Disposal/transportation accrual 1,385,000 2,294,000
Unearned revenue 4,149,000 3,695,000
Billing in excess of costs and estimated earnings 268,000 1,934,000
Current liabilities related to discontinued operations 3,994,000 1,512,000
Current portion of long-term debt 2,876,000 2,794,000
Total current liabilities 23,067,000 27,558,000
Accrued closure costs 5,222,000 11,349,000
Other long-term liabilities 739,000 674,000
Deferred tax liabilities 1,012,000 1,340,000
Long-term liabilities related to discontinued operations 602,000 1,829,000
Long-term debt, less current portion 11,372,000 11,402,000
Total long-term liabilities 18,947,000 26,594,000
Total liabilities 42,014,000 54,152,000
Commitments and Contingencies      
Series B Preferred Stock of subsidiary, $1.00 par value; 1,467,396 shares authorized, 1,284,730 shares issued and outstanding, liquidation value $1.00 per share plus accrued and unpaid dividends of $738 and $674, respectively 1,285,000 1,285,000
Stockholders' Equity:    
Preferred Stock, $.001 par value; 2,000,000 shares authorized, no shares issued and outstanding 0 0
Common Stock, $.001 par value; 75,000,000 shares authorized, 11,406,573 and 11,247,642 shares issued, respectively; 11,398,931 and 11,240,000 shares outstanding, respectively 11,000 11,000
Additional paid-in capital 103,454,000 102,864,000
Accumulated deficit (55,078,000) (19,103,000)
Accumulated other comprehensive income (loss) 2,000 (2,000)
Less Common Stock in treasury at cost; 7,642 shares (88,000) (88,000)
Total Perma-Fix Environmental Services, Inc. stockholders' equity 48,301,000 83,682,000
Non-controlling interest 0 572,000
Total stockholders' equity 48,301,000 84,254,000
Total liabilities and stockholders' equity $ 91,600,000 $ 139,691,000
[1] Segment assets have been adjusted for intercompany accounts to reflect actual assets for each segment.