American Ecology Loss Blamed on Cleanup Costs
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American Ecology said it lost $21.4 million in the fourth quarter ended Dec. 31 as the company set aside $23.7 million to clean up and close old waste-disposal sites.
The Calabasas waste-management company earned a profit of $2.1 million in the year-earlier quarter. Revenue in the quarter fell 25% to $13.1 million.
For the year, American Ecology lost $25.3 million, compared to a profit of $4.6 million a year earlier. Revenue for the year dropped 22% to $42.1 million.
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