1st-Quarter Profit Soars for American Ecology
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American Ecology Corp. said its first-quarter profit more than doubled from a year earlier, to $1.93 million from $744,000.
The Agoura Hills-based operator of hazardous-waste storage sites said the higher earnings in the quarter ended March 31 came on a 33% gain in revenue, to $14.7 million from $11.1 million.
American Ecology said the gains partly reflected higher revenues from its low-level radioactive waste-handling unit, and a $478,000 reduction in its interest costs compared with a year earlier. Also, the year-earlier results included a $651,000 pretax charge related to severance agreements for certain American Ecology employees.
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