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
Why Federal cloud? What is in Federal Clouds and integrations? This session will identify the process and the FedRAMP initiative. But is it sufficient? What is the remedy for keeping abreast of cutting-edge technology? In his session at 21st Cloud Expo, Rasananda Behera will examine the proposed solutions: Private or public or hybrid cloud Responsible governing bodies How can we accomplish?
SYS-CON Events announced today that N3N will exhibit at SYS-CON's @ThingsExpo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. N3N’s solutions increase the effectiveness of operations and control centers, increase the value of IoT investments, and facilitate real-time operational decision making. N3N enables operations teams with a four dimensional digital “big board” that consolidates real-time live video feeds alongside IoT sensor data a...
DevOps at Cloud Expo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 21st Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to w...
SYS-CON Events announced today that NetApp has been named “Bronze Sponsor” of SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. NetApp is the data authority for hybrid cloud. NetApp provides a full range of hybrid cloud data services that simplify management of applications and data across cloud and on-premises environments to accelerate digital transformation. Together with their partners, NetApp em...
Real IoT production deployments running at scale are collecting sensor data from hundreds / thousands / millions of devices. The goal is to take business-critical actions on the real-time data and find insights from stored datasets. In his session at @ThingsExpo, John Walicki, Watson IoT Developer Advocate at IBM Cloud, will provide a fast-paced developer journey that follows the IoT sensor data from generation, to edge gateway, to edge analytics, to encryption, to the IBM Bluemix cloud, to Wa...
With the rise of DevOps, containers are at the brink of becoming a pervasive technology in Enterprise IT to accelerate application delivery for the business. When it comes to adopting containers in the enterprise, security is the highest adoption barrier. Is your organization ready to address the security risks with containers for your DevOps environment? In his session at @DevOpsSummit at 21st Cloud Expo, Chris Van Tuin, Chief Technologist, NA West at Red Hat, will discuss: The top security r...
There is huge complexity in implementing a successful digital business that requires efficient on-premise and cloud back-end infrastructure, IT and Internet of Things (IoT) data, analytics, Machine Learning, Artificial Intelligence (AI) and Digital Applications. In the data center alone, there are physical and virtual infrastructures, multiple operating systems, multiple applications and new and emerging business and technological paradigms such as cloud computing and XaaS. And then there are pe...
SYS-CON Events announced today that B2Cloud will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. B2Cloud specializes in IoT devices for preventive and predictive maintenance in any kind of equipment retrieving data like Energy consumption, working time, temperature, humidity, pressure, etc.
DevOps at Cloud Expo – being held October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA – announces that its Call for Papers is open. Born out of proven success in agile development, cloud computing, and process automation, DevOps is a macro trend you cannot afford to miss. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's largest enterprises – and delivering real r...
With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend 21st Cloud Expo October 31 - November 2, 2017, at the Santa Clara Convention Center, CA, and June 12-14, 2018, at the Javits Center in New York City, NY, and learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.
Your clients expect transactions to never fail, cloud access to be fast and always on, and their data to be protected - no exceptions. Hear about how Secure Service Container (SSC), an IBM-exclusive open technology, enables secure building and hosting of next-generation applications, both cloud and on-premises. SSC protects the full stack from external and insider threats, allows automatic encryption of data in-flight and at-rest, and is tamper-resistant during installation and runtime – with no...
SYS-CON Events announced today that Suzuki Inc. will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Suzuki Inc. is a semiconductor-related business, including sales of consuming parts, parts repair, and maintenance for semiconductor manufacturing machines, etc. It is also a health care business providing experimental research for...
SYS-CON Events announced today that Massive Networks, that helps your business operate seamlessly with fast, reliable, and secure internet and network solutions, has been named "Exhibitor" of SYS-CON's 21st International Cloud Expo ®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. As a premier telecommunications provider, Massive Networks is headquartered out of Louisville, Colorado. With years of experience under their belt, their team of...
The “Digital Era” is forcing us to engage with new methods to build, operate and maintain applications. This transformation also implies an evolution to more and more intelligent applications to better engage with the customers, while creating significant market differentiators. In both cases, the cloud has become a key enabler to embrace this digital revolution. So, moving to the cloud is no longer the question; the new questions are HOW and WHEN. To make this equation even more complex, most ...
SYS-CON Events announced today that Fusic will exhibit at the Japan External Trade Organization (JETRO) Pavilion at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Fusic Co. provides mocks as virtual IoT devices. You can customize mocks, and get any amount of data at any time in your test. For more information, visit https://fusic.co.jp/english/.