Boise, Idaho-based American Ecology reported a net income of $3.5 million on $36.4 million in revenue for the second quarter. During the same period in 2008, the firm recorded a net income of $6.1 million on $44.5 million in revenue.
For the first six months of this year, American Ecology has reported a net income of $7.2 million on $71.3 million in revenue. During the same period in 2008, the company recorded a net income of $12 million on $90.7 million in revenue.
“Weak economic conditions and more competitive pricing adversely impacted our business through the second quarter,” said Steve Romano, chairman and CEO of American Ecology, in a press release. “Waste volumes were much lower than the second quarter of 2008, only slightly above volumes received in the first quarter of 2009. However, recurring base business with refineries and waste brokers held up relatively well, however, as we continued to strengthen our relationships with key customers and brokers. We are also pleased with our thermal desorption recycling operation in Texas, which continued to meet throughput expectations.”