Perma-Fix Environmental Services (NASDAQ:PESI) Inc has announced that its second-quarter 2022 revenue rose 20.5% to $19.5 million, boosted by sequential and year-over-year sales growth in both its Treatment and Services segments.
The nuclear services company said growth in both segments was due, in part, to the resumption of work and attaining complete operational levels on several projects that had been delayed due to the impact of the coronavirus (COVID-19) pandemic, as well as a 54% increase in waste receipts, including both commercial and international waste.
“We are witnessing increased requests for proposals within both the government and commercial sectors, as well as international customers,” Perma-Fix Environmental Services (NASDAQ:PESI) CEO Mark Duff said in a statement.
READ: Perma-Fix Environmental Services says it is among three suppliers awarded contract to treat and condition radioactive waste in the UK
“Overall, we remain encouraged by the outlook for the business given the pace of waste treatment receipts, new bidding opportunities, and improved federal budgets,” Duff added.
Perma-Fix also noted that its 2Q gross profit soared 198.6% to $2.9 million, due primarily to higher revenue generated in both the Treatment and Services segments, while its operating loss for the period narrowed to $880,000 from a loss of $2.2 million during the same quarter a year ago.
Perma-Fix is a nuclear services company and leading provider of nuclear and mixed waste management services. Its nuclear waste services include management and treatment of radioactive and mixed waste for hospitals, research labs, institutions, and US federal agencies. It operates four nuclear waste treatment facilities.
Contact Sean at sean@proactiveinvestors.com