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Perma-Fix Environmental Services Inc. Message Board

  • rabbitw96 rabbitw96 Aug 9, 2013 10:05 AM Flag

    misguided speculation

    The CC confirms that much of the speculation and angst posted on this board
    over the past couple of months has been way off base.

    Cento noted, for example, that sequestration was not responsible for the
    the reduction in government's clean-up efforts. Rather, it was because two
    govt. projects siphoned off money that would have gone to clean-up contracts.
    He noted that this is now swinging back to clean-up.

    Also noted discussions at "the highest govt. levels" regarding importance of
    keeping PESI strong and viable, since it is the only company with capabilities
    to handle the mainstream waste cleanups, which have typically accounted for about
    half its business. I would assume "highest level" refers to new Energy Secretary
    who has a better awareness of the importance of its work than his predecessor.

    Lot of interesting, important commentary, as from their prediction of profitability
    this quarter... You really have to listen to CC closely. I only mention this to caution
    against groundless board speculation, which obviously has been way off base and will
    continue to be, since we lack access to the kind of info the company has.

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    • Also noted discussions at "the highest govt. levels" regarding importance of
      keeping PESI strong and viable, since it is the only company with capabilities
      to handle the mainstream waste cleanups, which have typically accounted for about
      half its business. I would assume "highest level" refers to new Energy Secretary
      who has a better awareness of the importance of its work than his predecessor.


      Similar to the government discussions swirling around USU in its darkest days about a month ago.

    • A direct quote form the just-filed 10Q for the period ended June 30, under Item.1 Basis of Presentation--Subsection Current Financial Position and Liquidity:"... the 2013 revenue and our fiscal 2012 revenue were below our expectations and internal forecasts as a result of GOVERNMENT SEQUESTRATION, ending of contracts and general adverse economic conditions." The caps are my emphasis, just so you don't miss it when reading what they actually put down in writing subject to Sarbox oversight and to which they are forced to sign their names.

      I do view the second quarter results as at least modestly positive, perhaps a bit more so. Having said that, you will also recall i was the only one who suggested a re-test of the $0.36 per share low and was roundly chided for it. I apologize for missing it by three pennies as the stock traded to only $0.39 the day before the second quarter report. I still think it was the best call on this board to date. I think the days of a "3" handle on the stock price are now behind the company as buying interest has picked up and financial flexibility (w/the renewed private loan) has improved. I feel comfortable w/3Q, but less so w/4Q as the Hanford service subcontract will be gone. Even so that tends to be a seasonally stronger quarter for the company, and the stock has moved to a strong hold/accumulate in my humble opinion as my nearest term concerns have lessened.

 
PESI
3.69+0.06(+1.65%)2:56 PMEDT

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