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EnergySolutions sees higher Q4 revenue, lower loss

Published March 19, 2013 9:13 pm

This is an archived article that was published on sltrib.com in 2013, and information in the article may be outdated.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, said its revenue for the fourth quarter of its 2012 fiscal year increased 2.5 percent, to $480 million from $468.5 million, for the same period a year earlier.

For the quarter ended Dec. 31, EnergySolutions posted a loss of $10.8 million, or 12 cents per share, compared with a loss of $202.8 million, or $2.28 per share, for the final quarter of fiscal 2011.

EnergySolutions' board of director announced in early January that it had accepted a $3.75 per share offer from Energy Capital Partners to buy the company. A shareholder vote on that proposed sale is scheduled for April 26.

In light of that proposed sale, the company said it will not conduct a conference call or present a webcast to discuss its fourth quarter and 2012 year-end results.

For its 2012 fiscal year, EnergySolutions reported revenue of $1.8 billion, compared with $1.82 billion for fiscal year 2011. Net income for 2012 was $4 million, or 4 cents per share, compared with a loss of $196.2 million, or $2.21 per share, in the previous fiscal year.

The company noted that the loss in 2011 included a $174 million write-down of the company's goodwill and other accounting adjustments. Absent those charges and adjustments, EnergySolutions would have reported net income of $102.2 million, or $1.15 per share, for its 2011 fiscal year.