PESI - Earnings call transcript Q1 2019 | Perma-Fix Environmental Services, Inc.

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Operator

Greeting and welcome to the Perma-Fix Environmental First Quarter 2019 Business Update Conference Call. [Operator Instructions]. I would now like to turn the conference over to your host, David Waldman, Investor Relations. Please go ahead.

David Waldman

Thank you, Hector. welcome Environmental and XXXX First everyone, Call. Conference morning, to Services' Perma-Fix Quarter Good

with morning containing posted President website. us President call press is Financial the On this also issued company XXXX Dr. and Naccarato, a Centofanti, financial Officer. Initiatives; which The and this are company's Lou Executive quarter Strategic on Vice morning the of release Ben Chief first CEO; Duff, Mark results,

as information about you like All would to or or additional The press this If as makes certain no any like Communications this Crescendo be statements the date are subject within the forward-looking questions company uncertainties uncertainties other the after which to statements within call are Reform conference XXXX certain such in forward-looking that that differ also circumstances upon to Securities company, or call known statements the the These Act of at have after performance everyone deemed and commitment to company's forward-looking statements conference Commission I'd morning's contact statements contained filings may of statements. measures. please include any on factors, other any XXX-XXX-XXXX. bear remind Exchange disclose the call, actual and historical detailed meaning Securities this forward-looking of to fact, than the Private well revisions events any and and release. Litigation and could statements risks financial the results facts, materially non-GAAP statements. company that from U.S. of hereof and are risks, with unknown cause

non-GAAP to provides turn performance. additional the I'd most discussion go consistent now to Mark comparison in measurement an such believes is like its directly release the will Mark. that available Perma-Fix call our today's today's to Please measures. the addition, of measures on ahead, measures GAAP comparable over include news website. of and historical references reconciliation non-GAAP A to Duff. In information

Mark Duff

Great. Thanks, David.

well-positioned delays The induced this the for first Segment, backlog sales weeks second of quarter these results to $X.X quarter first several roughly and to approvals very us million million due year. XX, period second in very the the Northwest for the revenue These approximately as achieved as behind are government our increased the of last same around cold million but and Starting year. delayed year. stood shutdown X compared weather well with at $X our quarter Treatment shipment-related overall, as despite heading heading facility at of in into we're $X.X and of to our the March the issues the quarter, first We permit factors, balance XXXX.

cleanup are As also Segment. the and a result, to very with Treatment concluded our the the complete facility We've final the working M&EC for we're outlook encouraged at verification surveys.

this with verification the process expect for this landlord disappointed the later we're long quarter. working the Tennessee has taken, we're permit. how While release the with this to process conducting and in of of still directly We happen state now final

completed and the at facility As The currently incremental partnership have The a and multiyear new a large and government a call Northwest demonstration formally to our on GeoMelt capability operations Florida summer. activities we track inventory stream ago, us of commercial waste provides quarter in inventories of on the now to substantial receive storage backlog operations waste to water this and treatment is address with accept begun from as commercial contaminated radioactively announced now of waste Solutions. couple construction streams and fourth million. through inventory of the commenced vitrification We've remain excess unit allows Perma-Fix in treat facility at new continuing have water to testing of our weeks backlog our for waste stream. a us $XXX Nuclear additional of commence This are well. and unit our Veolia a reactive Perma-Fix GeoMelt and

of We and new technology separation announced cost-effective testing also patented for mercury-contaminated our in-ground successful recently soils.

this ground. from The soil time that system at easily system, elemental be passive mercury be current by from to a process a collection in-ground cost-effectively centralized operates which As technology or on-site and can mercury differs the off-site and separation the extracted removal the treatment. point, requires new drawing

technologies few has key solution treatment years. remediation As procurements over Based lower a system significantly providing next of represented remediation be lifecycle play the Energy, to within a on Department costs. potential to in of a role near-term objectives result, the and comprehensive in will some mercury passive the a several

to the to me, QX timing Segment. temporary excuse to We in Services Segment turning the weakness the projects. Turning -- experienced Treatment of due

been all previously projects new been However, are signed, and we been as have projects announced, in schedule. these Each of several we've progressing commencing now quarter substantial of awarded transitions on have second successful XXXX. the

a million alone. the approximately collective for XXXX have In growth to years as future few well. actually contracts are these $XX through growing. be These fact, We the these contracts in of estimate of potential value significant

U.S. made development Now believe are business as the within a of these last result in wins we organization. well year Canada improvements our include throughout work several these Department remediation Energy the direct of We locations as awards

next a of forward on on those. result, bidding additional future the a in and providing number to other large contracts few we're also quarters updates look As

changes future and plan our up, capabilities, strengthen wrap has enhancement XXXX will -- increases strategic to These remain with support our have to with the to to our waste investments made we've support initiatives of several broadening these of So the two have slower sales and base we closure, me, profitability. for and of increased growth our treatment included and been Each And about M&EC years received. made expansion programs growth. support marketing the more margin excuse with about growth. than market anticipated, beginning begun progress while efficient into we we're to changes, become optimistic our subsequent that revenue

organization As an illustrated as of we're to improvements $XX the the contracts business example, over last in our by benefit alone. starting made awarded development year we March see million through

on are these within to On of will who and the results bidding additional these on the number as detail. both financial We more developments segments large unfold to further forward note, Ben? I'll providing look Ben actively that a procurements. over projects updates call turn discuss in

Benio Naccarato

Starting Thanks, Mark. with revenue.

million operation the as compared continuing reduction increased The Segment Northwest of -- our in pricing Treatment positive revenue but offset our by Winter Mark from incoming the revenue for facility total or the Services volume was prior waste, and $XXX,XXX impacted but of provided revenue beginning first at of segment. to that $X.X $XX.X the noted, was XX.X% year quarter increased conditions, in Our $XX.X Segment million. quarter by for million. the backlog,

fixed payroll though prior million. treatment Variable expense costs largest awaited by cost Our were of costs. late in and year received the phase, next award of related as The slightly and increase waste Services to sales million, Segment March in we of down was the minimal revenue. to of which from down operating This began $X.X was to service costs our offset $XXX,XXX improved versus contracts higher was activity closure cost $X.X down due was April. in due mix

decrease or million from profit million $X.X QX $XXX,XXX in 'XX gross decreased by 'XX, $X.X a of the in Our $X.X to QX QX of quarter for million -- XX.X%. of in

Segment dropped Treatment Services increased profit due revenue. gross profit the $XXX,XXX Our was our the revenue, $XXX,XXX due Segment to to up while gross project by lower

and million from were the Our million, SG&A for higher $X.X payroll. increased of result the slightly proposal $X.X quarter expenses last and up and primarily costs year, bid

Our $X.XX common compared was share $XXX,XXX year. income last per of shareholders prior to of of $XXX,XXX loss continuing net to $XXX,XXX. had $XXX,XXX to compared the $X.XX year's loss We income taxes net quarter to for year. the a last operations net share had net in for of We attributable from the net income quarter loss per of compared of

press to was $XX,XXX adjusted EBITDA in last continuing morning's operations, defined $XXX,XXX as Our release, from compared year. this we

balance our to Turning sheet.

million, year-end. to from end remainder $XXX,XXX have at on leases XX/XX/XX, a were do ASC the $XXX,XXX, XXX. of We at present As year-end. cash compared as down year our consistent the our use the $X.X assets with guidelines, an of accounting operating represents the lease right fairly totaling books implementing new of of operating the our balance assets of result value current now The was which

Our million. current our also were liabilities unearned $X.X including flat, decreased relatively revenue approximately which

at but up 'XX. waste the million which million of of at $X.X backlog first of $X.X the from Our of the is year-end, approximately end quarter from was down million, quarter at end $XX.X the

questions. provided operations lease by update discontinued owed With debt $XXX,XXX. investing discontinued for is net of end total $XXX,XXX. Cash term to made Our the from to proceeds the which was million, Cash $XXX,XXX, Cash I'll investing used our cash to And financing numbers. on monthly Cash call flow of our by quarter of operations $XXX,XXX. used Bank. financing continuing of provided few the revolver the our for and was payments loan was up And that, cash which $XXX,XXX, over was $X.X is for turn of primarily was credit used operations of the was a $XXX,XXX facility, PNC other at continuing $XX,XXX. operation in I'll $XX,XXX. finally, now

Operator

[Operator Instructions].

Investor. of [ph], question the Private from first Our line comes Anthony Marchese

Unidentified Analyst

that's -- publicly or any do -- on your available regarding the us work question anything you like DOE? A can you say on with to give update

Mark Duff

probably Well, about...

Unidentified Analyst

the yes. With vitrification,

Mark Duff

I'm sorry?

Unidentified Analyst

Yes, yes.

With the have that's technology meant. what DOE, with I the for sorry, -- I'm you the

Mark Duff

revenue of Yes. Right now, about XX% of Department through Energy. the is our

Are you We of have about specifically? different lot the Hanford a technologies. speaking

Unidentified Analyst

Yes, yes.

Mark Duff

that what managing. TBI for is process and of the DOE the TBI great is we on they're on now is right the And part call track. extraction making the TBI, that's associated in-tank the which initiative, progress. permitting and unit. test the The -- other is Yes. And team that, and Most bed ongoing of on system, emphasis

public In system. think it's in that I -- now, there's out Hanford of out for comment to regards fact,

of So answer the question, waste, begin We're X,XXX is anticipating this to TBI in still things to -- gallons moving receipt that quarter year. which your forward. receipt fourth are

Operator

the Fine question of Steven line next Our [ph], Investor. Private comes from

Unidentified Analyst

questions. a me One, let the got sales. bunch understand I of

So Service. you you have in of in $XX $XX you're did million you in Treatment $XX.X then which saying the you're telling me million and million signed quarter, you a have have -- first backlog

did you on So when $XX million million XX May that's about year. roughly last $XX

Now is correct? that

Mark Duff

yes, -- numbers numbers Those correct. are those

Unidentified Analyst

this, So you're keeps if we this going last year? of and way way, this say, prorate ahead

Mark Duff

With regard year revenue, year. -- that Absolutely. we're spend, XXXX significantly last we're particularly, to of ahead revenue. ahead in ahead Strictly last that $XX significantly million in all is

Unidentified Analyst

any you I then And -- now. let's the exceeding with be So do have mean TBI, to you used a average. from project, mean mean, to have I $XX of million, going what the go all safe like million? they aside right and used high, say, you're $XX do to got projection, I I way you -- low

there is average an expectation? So

Mark Duff

million And we some treatment Services business, lot waste the are we I'm also though Steve, moralized for have for the funded to have that $XX new dependent rolling. Projects that, things these of really do have, basically, the this it's in business cases. where a we funded this we they're funded they're through on $XX Like you when contracts receipts the to in we backlog, what's we million in can with difficult of backlog. say side. year. is year. even on have continue we But inventory because business But based contracts funded, in clearly million because running, that backlog we $XX say project and we paid have this

happen. other to -- right now, sitting though where even in last year, of we're a compared can great you lot things we're have So don't words, doing

we're current -- a for if now. on hesitant But for to higher that stayed So in for to right on certainly just going growth be overall between and last would we XX% revenue that regards I'm very anticipate the than year XX% say heading year. dramatically I we're even path

And in doing growth. those lot a of on realizing of of now, real wins We always and a more Steve, bids, for with And them. been we've but we're on position those have top we better those couple of can quarters. a start the outstanding couple position do, a bids coming as out in next hopefully, we're successfully, through in coming wins we

Unidentified Analyst

realize on were Yes. $XX the was you March. totally didn't Service, the that million I that signing contract in

Mark Duff

Service. all was it Yes,

Unidentified Analyst

represents Well, question. Yes. of of had When say million of as end the wonderful. that how you Treatment $XX March, you that in One backlog, GeoMelt? that's much the

Mark Duff

the now we -- go GeoMelt will Probably of a couple inventory have years. right

So and for probably I that would this estimate between of the be, fiscal to rest million. $X $X year, million

Unidentified Analyst

million? $X million $X and Just

Mark Duff

backlog in now $X million we what right just $X yes. or million, have for It's that. Correct.

Unidentified Analyst

to year -- to so million? be all $X in million this $X that do you're And going GeoMelt will

Mark Duff

of we a study And yes. good still is That's that, mode. reason this year, have in backlog treatability we're even a the though

going like, while right operationally we'd we're fast going not it's as as is as So operational, fast fully it's but now. as designed it

Unidentified Analyst

And No, I regard With when of right. that's all confused look so closing only one mean down -- the this. plant, everything area. I'm to you at much the on

adjustment I you're But you're you'll actually going done. So $X get an for you you're the get to understand $X an made when million? done, get accounting sinking you going it -- are actually fund when influx of to million

Benio Naccarato

million closed, Yes, of event we at our the in our going any It assurance holds that company $X million have million alone requirement. plants. plant that about collateral releasing cash. is is that collateralizes the of of or of million $XX $XX is closure And at that all cash that requirements requirement. $XX that policy Yes. that, because ballpark of to closure Steve, the go plant supports When financial down of AIG closure insurance are our

So that is...

Unidentified Analyst

what you yes, And know I'm sorry. --

Benio Naccarato

balance long-term because, asset Yes. generally, right And it's converting now on sheet. that's classified unless under liquid as It's it's risk out. finite a not our

quarter. in that this expected So is

Unidentified Analyst

So from then, transfer you just will it, go will but thing it's cash? to bigger it one

Benio Naccarato

I'm Say again? sorry.

Unidentified Analyst

that earplugs -- I on. me? five is can hear the is So you have so --

Benio Naccarato

Yes, yes.

Unidentified Analyst

So the $X EBITDA included now? in will it... is million Or

Benio Naccarato

be the number. shift long-term in to in just It a from working the included is It's will not capital EBITDA. Where a you'll the cash. see improvement asset

You'll see...

Unidentified Analyst

EBITDA right the Right. now? integrated in it's But

Benio Naccarato

really not basically not like that almost an an aside. asset. we've it's cash It's -- It's Well, Correct. it's income. put

So from earnings EBITDA impact an will you impact. see not this, an

just You'll see improvement. liquidity

Unidentified Analyst

you'll -- so have Well, have but cash? you'll physical

Benio Naccarato

correct. Correct,

Unidentified Analyst

I Medical the period? in lot a going is you but away, mean still was you number of noticed some quarter, assumptions, of When there a last because there. I stuff wrote said Okay. off

being state be people. to total other project -- going the there a you done are -- in Medical when that is So project May did this this by

when to are we Medical? see assist any not the So going to write-off well

Louis Centofanti

some over -- is Medical incurring most partners be But time, are expenses still with still being plan work. of present in our constantly of it's -- the where funding we'll reviewed. our Medical and

see So over this term at we're -- point, expenses. still short you the will some

Benio Naccarato

$XX,XXX And from a is Steve, the output segment ongoing, net is while month. that analysis that cash now right about

costs all certain to company. we've is just being have everything audit maintenance. incur. countries arrangements in accounting, a But foreign there's the for where minimal nothing. pretty It's research So spending. being It's done otherwise, public set these There these and they're are legal and development of we doing that up with

Unidentified Analyst

When you you of that impacted. statement bad Mark weather, were made that? approvals because the statement, address Can Mark -- made permit when the the

Mark Duff

shutdown, in those And Yes. We exemptions DOT a our of through shipments. some months. government had waste transportation-related of lot the permits a and for couple the community. go they delayed And impacted by through they of and were regulatory unique so were

year, the to -- up back get this to loosened back up normal. everything is back, is through it but starting So now

Unidentified Analyst

you're for new regards of talking All commercialized? you the when And be that that about mercury, any will the do have with technology to -- is sense sales-wise? that right. what The potential

Mark Duff

approach X know very in there mercury term, or required. and is in the in the out. is X It's difficult unique, soil on on we can them, of cost-effective that at because with where the to on soils all to will how that But we table remediation that is are mercury this all a opportunities point. words, apply this find And all value near to of other pull the years, and it's this procurements remediation that potential bring that's inexpensive unknown are where the the this -- upcoming

the your so. difficult that until start we in in Steve, So Ridge of with because see again, the what here we're see until applications, to answer question, it's objectives year or we define and next procurement, the that first develop seeing are, we'll Oak the side early

Unidentified Analyst

the when in, the of develop you go words, I'm I the of market? technology don't I'm sarcastic. you go other you mean size presuming you sense in being have of and So market something. you the not size some develop know

Mark Duff

it's based there's Yes, this across fact we the going don't on not to coming difficult on much for and extent yes, on What we're entire entire number we It's work site. do. know of say a point, it it going in procurements word the we're at this hard on apply. that if how what a is, And will to position number not it. up, apply technology a the to -- the it's not put put site, the just to there's I -- just because understand sure mercury

Unidentified Analyst

still -- a All how it myself consider Well, right. it's and technical so that's forth. and person, -- you just I reasonably guys develop constantly things still these mean I me new amazes

my So subject. favorite

when be awarded tank you So closure to are going the contract?

Mark Duff

Well, and the Department now, about July right But begin I'm this pretty talk transition in will in quarter, third early scheduled of early or to the be sensitive to announced August. in Energy procurement, award is by Steve.

don't know that's but schedule. we and now So their then, anything current between

Unidentified Analyst

last to oral So a you that Has regard the -- presentation. with presentation, that call, that the completed? mentioned there -- been in has verbal was

Mark Duff

and completed. been completed we in now April, was That's so wait. That

Unidentified Analyst

see. I

is I back decision? -- the awaiting have is other -- process? do go it mean, are an here, presuming ongoing your there in you're for play just you So stuff? there is to and now Or in it explain

Mark Duff

Right now, decision, awaiting pretty yes. much it's for the

Unidentified Analyst

right. All

another have I question. So

TBI, provide X,XXX gallons. the about that you're So really will the to machine you the waiting that talked you for with regards that

correct? a being those from in separate larger amounts machine that at is permitted tank Now that's is machine farm, the that the machine

Mark Duff

correct. That's

Unidentified Analyst

Okay.

until won't until with with since the presuming, TBI gallons last be saying quarter. you you're -- be finished is finished X,XXX the question my So won't you

that closure, use tank of the X,XXX were you for can't argument's consortium So sake, machine to why a part get your won the bigger a if, gallons? you

Mark Duff

question, I associated It's that. a can't -- fine great anything And can't a question just with That's Steve. afraid address I I'm though.

Unidentified Analyst

All right. obviously the right. Well, All and learn there it's Good. that's glad company, -- about you're more I company -- very -- more I'm acknowledged. look, this esoteric. your

running can I that like And world what more and and have footprint realized. too frankly, greater you because the a waste. this. I'd what You're aren't And of do has enough see world read you about on nuclear, that be that. There more to there's many to the people that. see going you don't And has in nuclear, be talking discussion it like about to lot seems part if do, a a you're with the equation,

So anyway, to real would keep your anyway, positive going keep year see that hope would we But sales this have a I guys. year. on tracking, and real,

Operator

question next Big of Our Steve the Rock comes from with line Research. Levenson

Stephen Levenson

XX,XXX-foot that from Just the and can't soil you've of us the give separator returns a And expected investments on up those I near-term begin tomorrow, seeing feet, treatment GeoMelt, you sort you give what although sort treatment, commenced, the a a But and are watching view water has know made start on can of when things investments? targeted or the again, I outlook. timetable know to in you not ramp might pick we water did XX,XXX for say it's up.

Mark Duff

anticipating $XX address a water, say full we're those. Steve, all source. difficult million this, it's to But I in we're production Well, can when to of year $X revenue and million at

in that other bids issues at can delays its now processing. we some putting processing. we're Florida where state commit system and point getting we up to We and now to to some plant running. able start commit to the can we out are had with get the starting bids be and where So to But of

or and levels those but of within you hopefully start won't once winning on so a awards And overnight, year you we testing X market approach. will in to our some those get

new difficult comes treatment just the Steve, and overall on market overall, see waste say and that's the that So return projects investments our And these because to do stabilizes and in the are other waste X, technologies sometimes pay in waste In broadens But X. the a sometimes segment. sporadically our we're fast down or pay we with investment or be investment it's it. on depends it Adding very generated. growth few waste return or we'll off on X able words, typically streams, that to making.

and quick, very our to they're marketing away have just we and So cleaning strategy. hammering keep

Stephen Levenson

the that's -- to And Okay. or or it's that the mixed? is sort soil specific GeoMelt of

Mark Duff

soil still we a segregation. we're of We of those We couple still mentioned have a working outstanding calls couple hereon. ago, a couple have bids of

And so they're much longer anticipated. than taking

Stephen Levenson

versus when from when The government something acts you. they you slow want from them want something

Mark Duff

right. right. That's exactly That's

Stephen Levenson

any testing And Okay. Is -- I know mentioned customers there sorry, showing up? you or I'm potential any Is there there? update tech further any XX.

Mark Duff

goes, Lou side just as far Yes, mentioned now -- that and Steve? Medical is as the

Stephen Levenson

Right.

Mark Duff

Yes.

significantly, on just the else outsourcing But you Lou and this that? saying anything to slowed the want As and on now. divestment Ben were of a that you down have and we've we're mention Lou, studies do lot research

Louis Centofanti

it. value think No. their with We any idea give three at we still good basically us have if groups there's And looking it very there. a should results,

what So they from to at we're see waiting this them looking it. point, for of -- think more results

Operator

[Operator Instructions].

question next line Private from Miller of Wayne comes Investor. [ph], the Our

Unidentified Analyst

the As turned the results what's the a a XXXX lot I hell over? the how conference after know -- call, which optimistic I is, first can recall, to have quarter the was just going is occurred out fiscal the after more than on quarter sounded be. have not the question what quarter you year-end over, well,

Mark Duff

I not as can did that to out referring see fact turn the the... QX you're as good

Unidentified Analyst

talking about over. As it was it you after were

Mark Duff

have in more lot we we a is line bottom the Well, anticipated. than Yes. QX expenses

As on we impact some the shipment delays that quarter. in had mentioned, we had greater

Unidentified Analyst

was it was April over over. But XX. already on It

Mark Duff

the see didn't to until numbers the all Yes. quarter the impact we closed officially. We

Benio Naccarato

XX. to just not April sure, filed And we on X, Fine. be April

day. a by over was it So

Unidentified Analyst

conference results me. seems optimistic just than later. XX always are more that Well, enough said the days up show Okay. that's for that calls it the And

Operator

[ph], question Our Fine Investor. comes next Private Steven from

Unidentified Analyst

you I I that $XX The of to relative had -- about of remember asked My recollection going the more didn't is you really number. and one to had intended no more I million to the question, spoke what statement things. -- call, were that really you thing last because a was sales done have signed. couple that the you there be

this and So ahead is -- to in past year basically, I projections rosy, saying you have the last costs because Mark, done right? the question sit to you the that when million. at can further is, costs gentleman My time the interpreting up should that the to my I'm say, didn't the thing picture you you and much see this have had be then reason you of is way said X,XXX-gallon -- when -- relative $XX question the came fourth have You're what quarter.

done do So have would you quarter, fourth forward? a that? final or when presuming that's in the the expect relative moving of Do any made stage to you be sense decision

Mark Duff

Steve, on closure numbers we for even seen Development. tank approval that. and the that, more funded those And final fund, Technology I But sense yet. DOE funding haven't depends depends the final contract. the than through of is a It don't the final on so it have budget -- for this

budgets. on depends it So

seeing I So the that anticipate next clarity on would in month tank X. or closure some irrespective of

Unidentified Analyst

about or example, couple a up they When for we comments, to these ago, the Democrat, talking like and putting infrastructure. were -- trillion hear the was for all week $X head a President so talking

discussions? they about integrate infrastructure, waste talk So when those they into do

Mark Duff

is this Department of No. not that. with No, It's associated Energy. through all

Unidentified Analyst

broken having Because structure. the same need waste same having -- as is a as lying the you're Yes. today, around if the

Operator

the Deakin Investor. of Tim question [ph], comes from Private next Our line

Unidentified Analyst

on so delays So the forth. so and in you and first from quarter shipments talked about

are -- these now and second behind and these quarter. So in -- of you, the factors right, some

get was so do quarter we've And quarter over? of got mean -- you second that feel saying should you be the to sales year? we shouldn't last than quarter is stuff I the -- going second boost second a being all better because year nice can and this we substantially get earnings in that in this in confident carried

Mark Duff

QX. our is heading and momentum looking second real quarter is QX What in over increasing into can I we've -- say, Tim, significantly is that got revenue,

about we're ramping projects these are So all talking -- up. these

As shipments a you the all little split bit. mentioned, out. jammed of kind They up

revenue new will at some QX. of be of these we're also projects, strong QX but initiatives very But will very couple through Some excited QX with about realized looking we're be plays QX. in some -- those obviously and realized that by increases a

Unidentified Analyst

I -- additional the new so first quite this some got mean quarter all you you're a up the $XX You've in and you've should second then these plus in quarter? that give third boost, delays making and million of right, from got contracts,

Mark Duff

We're very optimistic, Tim, be significant a quarters for to both realize increase. to -- these

Unidentified Analyst

Yes.

know investors -- I seemed think they're but it now you and disappointed. that like last enthused your were quarter,

in guys investment mean know. got to the community, instill this track. don't some You back confidence on I have I you get to company

Mark Duff

management Yes. hesitant that, very to that's very we And really whole too sensitive are, Tim, I'm is. and we're much to start speculate the why team until we showing numbers. the

Unidentified Analyst

credibility build Yes, you do here. it's to presentations. mean important I think I

different the to at of to up the day, presentations you and But got numbers. go You put end groups. around the do

Mark Duff

right. That's

Unidentified Analyst

the turns what on. world That's

it's wanted Well, to Okay. just a listen, all make right. comment. I

Operator

And turn question-and-answer Ladies end of session. the and the reached to gentlemen, for remarks. I Duff to call the back we Mark like have closing would

Mark Duff

participating for first our call. Great. conference in everyone I'd thank to quarter like

be As awarded With Segment XX. bidding approximately many our grow as Segment, right Treatment of earlier, can the Services now, with million $X.X sustained continues and which the our mentioned of to new are award year. in contracts several on March from $XX this we're more backlog recently million

encouraged quarter. remain to business providing further next the forward extremely in the outlook look you. overall, So of Thank updates and we the by

Operator

conference. this gentlemen, today's concludes and Ladies

at time. your this disconnect your Thank for may participation. you You lines

Perma-Fix Environmental Services (PESI) 12 May 192019 Q1 Earnings call transcript