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Article Excerpt
Business Editors
LITTLETON, Colo.--(BUSINESS WIRE)--March 5, 2004
ADA-ES, Inc. (OTCBB:ADES) today announced financial results for the fourth quarter and year ended December 31, 2003. See attached tables.
For the fourth quarter, total revenues were $1.5 million versus $1.8 million in the fourth quarter of 2002. While revenues rose in the Company's mercury emission control segment and combustion aids segment, flue gas conditioning revenues declined as expected due to a large non-recurring equipment sale in the fourth quarter of 2002, as well as sales to a temporary chemicals customer last year. Income before a $93,000 tax benefit in the fourth quarter of 2003 was $79,000 or $.02 per diluted share. After the benefit, net income was $172,000 or $.05 per diluted share versus $144,000 or $.04 per diluted share in the final quarter of last year. The fourth quarter represented the Company's eighth consecutive quarter of profitability.
For fiscal year 2003, total revenues increased 3% to $5.9 million from $5.7 million in the prior year. Income before the aforementioned tax benefit was $316,000 or $.09 per diluted share. After the benefit, net income was $409,000 or $.12 per...
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