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, 2013
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).  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
  
2013
  
   
   
   
 
Net revenues
  
$
19,829
    
$
22,784
    
$
19,072
    
$
12,728
  
Gross profit
    
537
      
4,023
      
3,129
      
2,127
  
Loss from continuing operations
    
(2,888
)
    
(980
)
    
(568
)
    
(30,035
)
(Loss) income from discontinued operations, net of taxes
    
(27
)
    
43
      
(240
)
    
(1,344
)
Net loss
    
(2,915
)
    
(937
)
    
(808
)
    
(31,379
)
Net loss attributable to noncontrolling interest
    
(3
)
    
(61
)
    
—
      
—
  
Net loss attributable to Perma-Fix Environmental Services, Inc. common stockholders
  
$
(2,912
)
  
$
(876
)
  
$
(808
)
  
$
(31,379
)
 
                                
Basic and diluted net loss per common share attributable to Perma-Fix Environmental Services, Inc. stockholders:
                                
Continuing operations
  
$
(.26
)
  
$
(.08
)
  
$
(.05
)
  
$
(2.63
)
Discontinued operations
    
—
      
—
      
(.02
)
    
(.12
)
Net loss per common share
  
$
(.26
)
  
$
(.08
)
  
$
(.07
)
  
$
(2.75
)
 
                                
 
  
March 31
    
June 30
    
Sept 30
    
Dec. 31
  
2012
                                
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 and diluted 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 per common share
  
$
(.09
)
  
$
(.10
)
  
$
(.05
)
  
$
(.06
)

Net loss for the second and fourth quarters of 2013 included goodwill impairment charges of $1,149,000 and $26,707,000, respectively, recorded within our continuing operations (See “Note 3 - Goodwill and Other Intangible Assets” for further information).  Net loss for the fourth quarters of 2013 included a charge of approximately $4,760,000 to tax expense ($3,596,000 within continuing operations and $1,164,000 within discontinued operations) to provide a full valuation allowance on the Company’s net deferred tax assets.
 
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.