| QUARTERLY OPERATING RESULTS (UNAUDITED) |
NOTE 17
QUARTERLY OPERATING RESULTS (UNAUDITED)
Unaudited quarterly operating results are summarized as follows (in thousands, except per share data):
| |
|
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) income from continuing operations |
|
|
(807 |
) |
|
|
(1,009 |
) |
|
|
(472 |
) |
|
|
(4,262 |
) |
(Loss) income from discontinued operations, net of taxes |
|
|
(138 |
) |
|
|
(60 |
) |
|
|
(61 |
) |
|
|
717 |
|
Net (loss) income |
|
|
(945 |
) |
|
|
(1,069 |
) |
|
|
(533 |
) |
|
|
(3,545 |
) |
Net income attributable to noncontrolling interest |
|
|
56 |
|
|
|
102 |
|
|
|
21 |
|
|
|
1 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net (loss) income attributable to Perma-Fix Environmental Services, Inc. common stockholders |
|
|
(1,001 |
) |
|
|
(1,171 |
) |
|
|
(554 |
) |
|
|
(3,546 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic net (loss) income per common share attributable to |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Perma-Fix Environmental Services, Inc. stockholders: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Continuing operations |
|
|
(.02 |
) |
|
|
(.02 |
) |
|
|
(.01 |
) |
|
|
(.07 |
) |
Discontinued operations |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
.01 |
|
Net (loss) income per common share |
|
|
(.02 |
) |
|
|
(.02 |
) |
|
|
(.01 |
) |
|
|
(.06 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted net (loss) income per common share attributable to |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Perma-Fix Environmental Services, Inc. stockholders: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Continued operations |
|
|
(.02 |
) |
|
|
(.02 |
) |
|
|
(.01 |
) |
|
|
(.07 |
) |
Discontinued operations |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
.01 |
|
Net (loss) income per common share |
|
|
(.02 |
) |
|
|
(.02 |
) |
|
|
(.01 |
) |
|
|
(.06 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2011 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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 |
|
|
|
5,132 |
|
Income (loss) from discontinued operations, net of taxes |
|
|
212 |
|
|
|
(32 |
) |
|
|
(187 |
) |
|
|
784 |
|
Gain (loss) on disposal of discontinued operations, net of taxes |
|
|
— |
|
|
|
— |
|
|
|
1,777 |
|
|
|
(268 |
) |
Net (loss) income |
|
|
(321 |
) |
|
|
2,520 |
|
|
|
6,011 |
|
|
|
5,648 |
|
Net income attributable to noncontrolling interest |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
22 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net (loss) income attributable to Perma-Fix Environmental Services, Inc. common stockholders |
|
|
(321 |
) |
|
|
2,520 |
|
|
|
6,011 |
|
|
|
5,626 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic net (loss) income per common share attributable to |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Perma-Fix Environmental Services, Inc. stockholders: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Continuing operations |
|
|
(.01 |
) |
|
|
.05 |
|
|
|
.08 |
|
|
|
.09 |
|
Discontinued operations |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
.01 |
|
Gain on disposal of discontinued operations, net of taxes |
|
|
— |
|
|
|
— |
|
|
|
.03 |
|
|
|
— |
|
Net (loss) income per common share |
|
|
(.01 |
) |
|
|
.05 |
|
|
|
.11 |
|
|
|
.10 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted net (loss) income per common share attributable to |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Perma-Fix Environmental Services, Inc. stockholders: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Continued operations |
|
|
(.01 |
) |
|
|
.05 |
|
|
|
.08 |
|
|
|
.09 |
|
Discontinued operations |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
.01 |
|
Gain on disposal of discontinued operations, net of taxes |
|
|
— |
|
|
|
— |
|
|
|
.03 |
|
|
|
— |
|
Net (loss) income per common share |
|
|
(.01 |
) |
|
|
.05 |
|
|
|
.11 |
|
|
|
.10 |
|
Loss from continuing operations for the quarter ended December 31, 2012, included a charge to income tax expense of approximately $1,949,000 related to an uncertain tax position and a charge to income tax expense of approximately $1,375,000 attributed to the write-off of deferred tax assets that, based upon new information obtained by management, would not be realizable by the Company. See Note 12 – "Income Tax" for further discussion of these income tax expenses.
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.
|