Waste-Control Company Shows Loss for Quarter
American Ecology reported a 59% drop in net income on a sales decline of 22% for the calendar first quarter. The Agoura Hills waste management firm said it earned $700,000, or 24 cents per share, on sales of $10.4 million.
American Ecology attributed its downturn to delays in the implementation of laws governing low-level radioactive wastes, which are handled by American Ecology’s subsidiary, U.S. Ecology. The company said its customers have delayed shipping wastes to its dump site in Richland, Wash., pending clarification of the laws.