Click here to close now.




















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
Explosive growth in connected devices. Enormous amounts of data for collection and analysis. Critical use of data for split-second decision making and actionable information. All three are factors in making the Internet of Things a reality. Yet, any one factor would have an IT organization pondering its infrastructure strategy. How should your organization enhance its IT framework to enable an Internet of Things implementation? In his session at @ThingsExpo, James Kirkland, Red Hat's Chief Arch...
For IoT to grow as quickly as analyst firms’ project, a lot is going to fall on developers to quickly bring applications to market. But the lack of a standard development platform threatens to slow growth and make application development more time consuming and costly, much like we’ve seen in the mobile space. In his session at @ThingsExpo, Mike Weiner, Product Manager of the Omega DevCloud with KORE Telematics Inc., discussed the evolving requirements for developers as IoT matures and conducte...
Providing the needed data for application development and testing is a huge headache for most organizations. The problems are often the same across companies - speed, quality, cost, and control. Provisioning data can take days or weeks, every time a refresh is required. Using dummy data leads to quality problems. Creating physical copies of large data sets and sending them to distributed teams of developers eats up expensive storage and bandwidth resources. And, all of these copies proliferating...
Malicious agents are moving faster than the speed of business. Even more worrisome, most companies are relying on legacy approaches to security that are no longer capable of meeting current threats. In the modern cloud, threat diversity is rapidly expanding, necessitating more sophisticated security protocols than those used in the past or in desktop environments. Yet companies are falling for cloud security myths that were truths at one time but have evolved out of existence.
Digital Transformation is the ultimate goal of cloud computing and related initiatives. The phrase is certainly not a precise one, and as subject to hand-waving and distortion as any high-falutin' terminology in the world of information technology. Yet it is an excellent choice of words to describe what enterprise IT—and by extension, organizations in general—should be working to achieve. Digital Transformation means: handling all the data types being found and created in the organizat...
Public Cloud IaaS started its life in the developer and startup communities and has grown rapidly to a $20B+ industry, but it still pales in comparison to how much is spent worldwide on IT: $3.6 trillion. In fact, there are 8.6 million data centers worldwide, the reality is many small and medium sized business have server closets and colocation footprints filled with servers and storage gear. While on-premise environment virtualization may have peaked at 75%, the Public Cloud has lagged in adop...
SYS-CON Events announced today that HPM Networks will exhibit at the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. For 20 years, HPM Networks has been integrating technology solutions that solve complex business challenges. HPM Networks has designed solutions for both SMB and enterprise customers throughout the San Francisco Bay Area.
The Software Defined Data Center (SDDC), which enables organizations to seamlessly run in a hybrid cloud model (public + private cloud), is here to stay. IDC estimates that the software-defined networking market will be valued at $3.7 billion by 2016. Security is a key component and benefit of the SDDC, and offers an opportunity to build security 'from the ground up' and weave it into the environment from day one. In his session at 16th Cloud Expo, Reuven Harrison, CTO and Co-Founder of Tufin,...
The time is ripe for high speed resilient software defined storage solutions with unlimited scalability. ISS has been working with the leading open source projects and developed a commercial high performance solution that is able to grow forever without performance limitations. In his session at Cloud Expo, Alex Gorbachev, President of Intelligent Systems Services Inc., shared foundation principles of Ceph architecture, as well as the design to deliver this storage to traditional SAN storage co...
MuleSoft has announced the findings of its 2015 Connectivity Benchmark Report on the adoption and business impact of APIs. The findings suggest traditional businesses are quickly evolving into "composable enterprises" built out of hundreds of connected software services, applications and devices. Most are embracing the Internet of Things (IoT) and microservices technologies like Docker. A majority are integrating wearables, like smart watches, and more than half plan to generate revenue with ...
The Cloud industry has moved from being more than just being able to provide infrastructure and management services on the Cloud. Enter a new era of Cloud computing where monetization’s services through the Cloud are an essential piece of strategy to feed your organizations bottom-line, your revenue and Profitability. In their session at 16th Cloud Expo, Ermanno Bonifazi, CEO & Founder of Solgenia, and Ian Khan, Global Strategic Positioning & Brand Manager at Solgenia, discussed how to easily o...
The Internet of Everything (IoE) brings together people, process, data and things to make networked connections more relevant and valuable than ever before – transforming information into knowledge and knowledge into wisdom. IoE creates new capabilities, richer experiences, and unprecedented opportunities to improve business and government operations, decision making and mission support capabilities.
In their session at 17th Cloud Expo, Hal Schwartz, CEO of Secure Infrastructure & Services (SIAS), and Chuck Paolillo, CTO of Secure Infrastructure & Services (SIAS), provide a study of cloud adoption trends and the power and flexibility of IBM Power and Pureflex cloud solutions. In his role as CEO of Secure Infrastructure & Services (SIAS), Hal Schwartz provides leadership and direction for the company.
Rapid innovation, changing business landscapes, and new IT demands force businesses to make changes quickly. The DevOps approach is a way to increase business agility through collaboration, communication, and integration across different teams in the IT organization. In his session at DevOps Summit, Chris Van Tuin, Chief Technologist for the Western US at Red Hat, will discuss: The acceleration of application delivery for the business with DevOps
Growth hacking is common for startups to make unheard-of progress in building their business. Career Hacks can help Geek Girls and those who support them (yes, that's you too, Dad!) to excel in this typically male-dominated world. Get ready to learn the facts: Is there a bias against women in the tech / developer communities? Why are women 50% of the workforce, but hold only 24% of the STEM or IT positions? Some beginnings of what to do about it! In her Opening Keynote at 16th Cloud Expo, S...