American Ecology Cites New Laws in Profit Dip

American Ecology reported that its earnings fell 28.3% in the second quarter, to $700,000, or 25 cents a share, on revenue that dropped 28.5% to $10.3 million.

The Calabasas-based waste management company said results were down from the same period last year because of new laws increasing the cost of disposing of low-level radioactive wastes.

For the six months ended June 30, the company's earnings fell 56.3%, to $1.4 million, or 49 cents a share. Revenue dropped 25.9%, to $20.6 million.

In December, California chose US Ecology, the biggest unit of American Ecology, to design and build the state's first dump for low-level radioactive wastes.

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