Perma-Fix Announces $15 Million in New Contract Awards
ATLANTA, GA / ACCESSWIRE / September 24, 2019 / Perma-Fix Environmental Services, Inc. (NASDAQ:PESI) (the "Company", "we") today announced it has been awarded new contracts in nuclear services projects valued at approximately $15 million over the next 18 months with opportunities for expansion.
Mark Duff, Chief Executive Officer, stated, "We have recently been awarded several new projects that will further increase our funded backlog and bolster our Services Segment revenues, reaffirming our confidence we should see significant improvement in our operating results in the third and fourth quarters of 2019. These wins leverage our experience in complex radiological contamination remediation and recovery efforts while applying new technologies to reduce cost and schedule durations. The new contracts include additional scope in Canada as well as new opportunities in the Department of Defense ("DOD") and the Department of Energy ("DOE") focusing on demolition and remediation in radiological environments with direct potential for additional expansion as the projects evolve. Some of these projects also come with the potential to send additional waste to our Treatment segment. We believe these additional wins are a direct result of the improvements established last year within our business development organization and the innovations applied to our radiological remediation activities. These new contracts will assist in supporting our goals for sustained growth in the Services Segment while also strengthening our Treatment Segment through client expansion."
About Perma-Fix Environmental Services
Perma-Fix Environmental Services, Inc. is a nuclear services company and leading provider of nuclear and mixed waste management services. The Company's nuclear waste services include management and treatment of radioactive and mixed waste for hospitals, research labs and institutions, federal agencies, including the DOE, the DOD, and the commercial nuclear industry. The Company's nuclear services group provides project management, waste management, environmental restoration, decontamination and decommissioning, new build construction, and radiological protection, safety and industrial hygiene capability to our clients. The Company operates three nuclear waste treatment facilities and provides nuclear services at DOE, DOD, and commercial facilities, nationwide.
Please visit us at http://www.perma-fix.com.
This press release contains "forward‑looking statements" which are based largely on the Company's expectations and are subject to various business risks and uncertainties, certain of which are beyond the Company's control. Forward-looking statements generally are identifiable by use of the words such as "believe", "expects", "intends", "anticipate", "plan to", "estimates", "projects", and similar expressions. Forward‑looking statements include, but are not limited to: will further increase our funded backlog and bolster our Services Segment revenues reaffirming our confidence we should see significant improvement in our operating results beginning in the third and fourth quarters of 2019; direct result of the improvements established last year within business development organization; new technology to reduce cost and schedule durations; potential for additional expansion; potential to send additional waste to our Treatment Segment; will assist in supporting our goals for sustained growth in the nuclear services segment while strengthening our waste treatment segment through client expansion. These forward‑looking statements are intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. While the Company believes the expectations reflected in this news release are reasonable, it can give no assurance such expectations will prove to be correct. There are a variety of factors which could cause future outcomes to differ materially from those described in this release, including, without limitation, future economic conditions; industry conditions; competitive pressures; our ability to apply, commercialize, and market our new technologies; the government or such other party to a contract granted to us fails to abide by or comply with the contract or to deliver waste as anticipated under the contract; completion of construction projects on a timely basis; Congress provides continuing funding for the DOD's and DOE's remediation projects; ability to obtain new foreign and domestic remediation contracts; our ability to fund the commercialization of our technology; and the additional factors referred to under "Risk Factors" and "Special Note Regarding Forward-Looking Statements" of our 2018 Form 10-K and Forms 10-Q for quarters ended March 31, 2019 and June 30, 2019. The Company makes no commitment to disclose any revisions to forward‑looking statements, or any facts, events or circumstances after the date hereof that bear upon forward‑looking statements.
Please visit us on the World Wide Web at http://www.perma-fix.com.
David K. Waldman-US Investor Relations
Crescendo Communications, LLC
Herbert Strauss-European Investor Relations
+43 316 296 316
SOURCE: Perma-Fix Environmental Services, Inc.
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Released September 24, 2019