Welcome!

News Feed Item

Avalon Holdings Corporation Announces Second Quarter Results

WARREN, Ohio, Aug. 12, 2014 /PRNewswire/ -- Avalon Holdings Corporation (NYSE Amex: AWX) today announced financial results for the second quarter of 2014.    

Net operating revenues in the second quarter of 2014 were $13.0 million compared with $15.7 million in the second quarter of 2013.  The Company incurred a net loss of $.1 million, or $.03 per share for the second quarter of 2014 compared with net income of $.5 million, or $.12 per share for the second quarter of 2013.

For the first six months of 2014, net operating revenues were  $23.0 million compared with $30.4 million for the first six months of 2013.  The Company incurred a net loss of $.8 million, or $.21 per share for the first six months of 2014 compared with net income of $.3 million or $.08 per share for the first six months of 2013.

Avalon Holdings Corporation provides waste management services to industrial, commercial, municipal and governmental customers in selected northeastern and midwestern U.S. markets.  Avalon Holdings Corporation also owns the Avalon Golf and Country Club, which operates golf courses and related facilities.

AVALON HOLDINGS CORPORATION AND SUBSIDIARIES
Condensed Consolidated Statements of Operations (Unaudited)
(in thousands, except for per share amounts)



Three Months Ended

June 30,


Six Months Ended

June 30,


2014


2013


2014


2013









Net operating revenues

$  13,016


$ 15,733


$ 22,999


$  30,402









Costs and expenses:








   Costs of operations

10,786


13,038


19,300


25,592

   Depreciation and Amortization

555


405


983


809

   Selling, general and administrative expenses

1,876


1,894


3,676


3,794

 

Operating (loss) income

 

(201)


 

396


 

(960)


 

207









Other income (expense):








   Interest expense

(5)


(5)


(10)


(10)

   Interest income


1



1

   Other income, net

90


97


162


176

(Loss) income before income taxes

(116)


489


(808)


374









Provision for income taxes

22


30


30


59









Net (loss) income

$      (138)


$       459


$     (838)


$        315









Less loss attributable to non-controlling interest in subsidiary

(50)



(51)










Net loss attributable to Avalon Holdings Corporation
















(Loss) income per share attributable to Avalon

Holdings Corporation common shareholders:

$        (88)


$      459


$     (787)


$        315









Net (loss) income per share- basic

$       (.03)


$        .12


$      (.21)


$         .08

Net (loss) income  per share- diluted

$       (.03)


$        .11


$      (.21)


$         .08









Weighted average shares outstanding – basic

3,803


3,803


3,803


3,803

Weighted average shares outstanding – diluted

3,803


4,018


3,803


4,039

 


AVALON HOLDINGS CORPORATION AND SUBSIDIARIES
Condensed Consolidated Balance Sheets
(in thousands)




  June 30,

   2014


December 31,
2013


(Unaudited)



Assets:




Current Assets:




     Cash and cash equivalents

$          7,137


$          9,798

     Accounts receivable, net

9,051


10,201

     Prepaid expenses

323


349

     Refundable income taxes

3


3

     Other current assets

1,107


830

          Total current assets

17,621


21,181





Property and equipment, net

30,471


27,563

Leased property under capital leases, net

6,559


6,719

Noncurrent deferred tax asset

8


8

Other assets, net

93


108

          Total assets

$         54,752


$        55,579





Liabilities and Equity




Current Liabilities:




     Current portion of obligations under capital leases

$               57


$              56

     Accounts payable

6,416


8,101

     Accrued payroll and other compensation

827


549

     Accrued income taxes

10


1

     Other accrued taxes

297


307

     Deferred revenues

3,108


2,265

     Other liabilities and accrued expenses

509


365

          Total current liabilities

11,224


11,644





Obligations under capital leases

363


390

Noncurrent liabilities

75


75





 Total equity  

43,090


43,470





          Total liabilities and equity

$         54,752


$        55,579

 

SOURCE Avalon Holdings Corporation

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
SYS-CON Events announced today that EARP Integration will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. EARP Integration is a passionate software house. Since its inception in 2009 the company successfully delivers smart solutions for cities and factories that start their digital transformation. EARP provides bespoke solutions like, for example, advanced enterprise portals, business intelligence systems an...
IBM helps FinTechs and financial services companies build and monetize cognitive-enabled financial services apps quickly and at scale. Hosted on IBM Bluemix, IBM’s platform builds in customer insights, regulatory compliance analytics and security to help reduce development time and testing. In his session at 20th Cloud Expo, Tom Eck, Industry Platforms CTO at IBM Cloud, will discuss how these tools simplify the time-consuming tasks of selection, mapping and data integration, allowing developers ...
Regardless of what business you’re in, it’s increasingly a software-driven business. Consumers’ rising expectations for connected digital and physical experiences are driving what some are calling the "Customer Experience Challenge.” In his session at @DevOpsSummit at 20th Cloud Expo, Marco Morales, Director of Global Solutions at CollabNet, will discuss how organizations are increasingly adopting a discipline of Value Stream Mapping to ensure that the software they are producing is poised to o...
SYS-CON Events announced today that Outscale, a global pure play Infrastructure as a Service provider and strategic partner of Dassault Systèmes, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Founded in 2010, Outscale simplifies infrastructure complexities and boosts the business agility of its customers. Outscale delivers a secure, reliable and industrial strength solution for its customers, which in...
SYS-CON Events announced today that Progress, a global leader in application development, has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Enterprises today are rapidly adopting the cloud, while continuing to retain business-critical/sensitive data inside the firewall. This is creating two separate data silos – one inside the firewall and the other outside the firewall. Cloud ISVs oft...
Interested in leveling up on your Cloud Foundry skills? Join IBM for Cloud Foundry Days on June 7 at Cloud Expo New York at the Javits Center in New York City. Cloud Foundry Days is a free half day educational conference and networking event. Come find out why Cloud Foundry is the industry's fastest-growing and most adopted cloud application platform.
In order to meet the rapidly changing demands of today’s customers, companies are continually forced to redefine their business strategies in order to meet these needs, stay relevant and continue to see profitable growth. IoT deployment and development is integral in this transformation, and today businesses are increasingly seeing the value of investing their resources into IoT deployments. These technologies are able increase ROI through projects such as connecting supply chains or enabling sm...
Most DevOps journeys involve several phases of maturity. Research shows that the inflection point where organizations begin to see maximum value is when they implement tight integration deploying their code to their infrastructure. Success at this level is the last barrier to at-will deployment. Storage, for instance, is more capable than where we read and write data. In his session at @DevOpsSummit at 20th Cloud Expo, Josh Atwell, a Developer Advocate for NetApp, will discuss the role and value...
As cloud adoption continues to transform business, today's global enterprises are challenged with managing a growing amount of information living outside of the data center. The rapid adoption of IoT and increasingly mobile workforce are exacerbating the problem. Ensuring secure data sharing and efficient backup poses capacity and bandwidth considerations as well as policy and regulatory compliance issues.
SYS-CON Events announced today that Cloud Academy will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Cloud Academy is the industry’s most innovative, vendor-neutral cloud technology training platform. Cloud Academy provides continuous learning solutions for individuals and enterprise teams for Amazon Web Services, Microsoft Azure, Google Cloud Platform, and the most popular cloud computing technologies. Ge...
When NSA's digital armory was leaked, it was only a matter of time before the code was morphed into a ransom seeking worm. This talk, designed for C-level attendees, demonstrates a Live Hack of a virtual environment to show the ease in which any average user can leverage these tools and infiltrate their network environment. This session will include an overview of the Shadbrokers NSA leak situation.
In his opening keynote at 20th Cloud Expo, Michael Maximilien, Research Scientist, Architect, and Engineer at IBM, will motivate why realizing the full potential of the cloud and social data requires artificial intelligence. By mixing Cloud Foundry and the rich set of Watson services, IBM's Bluemix is the best cloud operating system for enterprises today, providing rapid development and deployment of applications that can take advantage of the rich catalog of Watson services to help drive insigh...
SYS-CON Events announced today that Interoute has been named “Bronze Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Interoute is the owner operator of Europe's largest network and a global cloud services platform, which encompasses over 70,000 km of lit fiber, 15 data centers, 17 virtual data centers and 33 colocation centers, with connections to 195 additional partner data centers. Our full-service Unifie...
SYS-CON Events announced today that delaPlex will exhibit at SYS-CON's @ThingsExpo, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. delaPlex pioneered Software Development as a Service (SDaaS), which provides scalable resources to build, test, and deploy software. It’s a fast and more reliable way to develop a new product or expand your in-house team.
Amazon started as an online bookseller 20 years ago. Since then, it has evolved into a technology juggernaut that has disrupted multiple markets and industries and touches many aspects of our lives. It is a relentless technology and business model innovator driving disruption throughout numerous ecosystems. Amazon’s AWS revenues alone are approaching $16B a year making it one of the largest IT companies in the world. With dominant offerings in Cloud, IoT, eCommerce, Big Data, AI, Digital Assis...