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EnergySolutions: Higher Q3 revenue, earnings

Published November 8, 2012 9:43 pm

This is an archived article that was published on sltrib.com in 2012, and information in the article may be outdated. It is provided only for personal research purposes and may not be reprinted.

EnergySolutions Inc., the Salt Lake City-based nuclear waste company, reported its 2012 third quarter revenue increased to $444.2 million compared with $421 million in the same quarter a year ago.

The company said its net income for the quarter was $10.1 million, or 11 cents per share, compared with a loss of $3.8 million, or 4 cents per share, in the third quarter of fiscal 2011.

"We are pleased with the progress that we made on a number of fronts to improve our margins and increase our profitability," David Lockwood, president and CEO said in a statement releasing the company's latest financial results. "With the recently announced cost savings and other efforts, we are putting in place the building blocks and business plans that will be the foundation for more profitable growth in 2013 and beyond."

For the nine-month period ended Sept. 30, 2012, Energy Solutions reported revenue of $1.32 billion, down slightly from the $1.34 billion in the similar period in fiscal 2011.

Nine-month net income, however, rose from last year with the company reporting a profit of $14.8 million, or 17 cents per share, compared with $6.6 million, or 7 cents per share, a year earlier.