EnergySolutions sees higher Q4 revenue, lower loss
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.