| To: JAL who wrote (35) | 3/10/1998 4:57:00 PM | | From: JAL | | | | |
With a 500% increase in trading volume and a 1 1/8 point increase I guess people are guessing that earnings will be good. I was getting worried that the delayed release was bad news. Somebody must know something I hope. |
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| To: JAL who wrote (36) | 3/11/1998 5:29:00 PM | | From: milt | | | |
I see Duratek reported earnings today--$0.10 (diluted)which was in line with the Zacks estimate. Last year was $0.02 for the quarter. They reported $0.14 for the year (diluted) vs. $0.04 last year.
I think this company has explosive growth ahead. One reason is that there are 14 nuclear power plants shut down in the U.S. and moving toward decommissioning. Decommissioning will run upwards of $100 million each, and Duratek is very well positioned to get a large part of this business. They already have the contract to do the characterization study (planning for decommissioning) on the Maine-Yankee plant, and having done that they will be well positioned to bid on the job. They say they hope to get about half of the decommissioning work in the country. If they even come close to that goal, their revenues will jump dramatically from present levels. Today they reported revenues of $136 million for 12 months, and that doesn't include any decommissioning work. |
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| To: milt who wrote (37) | 3/11/1998 7:40:00 PM | | From: WWS | | | | |
Interesting too that this quarter's income was also hit to the tune of $1.3 mm for the six months or so that the Savannah River melter was down. Bring that back and we would have been at about .16/share earnings for the quarter. I'm pretty happy with the prospects of this one, if from nothing other than potential decommissionings. |
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| To: WWS who wrote (38) | 3/14/1998 8:21:00 PM | | From: Wayne G. Burnside | | | |
I agree that the decommissioning market will be significant. Furthermore, decommissioning of nuclear subs will also be significant.
However, I think the Hanford contract is the reason anyone should own this stock. This should propell this stock for many years to come because it is the mother lode potentially worth billions. As a matter of fact, DOE is expected to award the next phase of this contract by July 30, 1998. As we know, the BNFL team that includes DRTK, and the Lockheed-Martin team are competing for this contract. It is interesting to note that while DOE could award contracts to both teams, it has the authority to award just one contract. If that happens, I beleive that the BNFL would get the contract because Lockheed's reputation in the eyes of DOE has been diminished because of on-going problems Lockheed has at Idaho National Lab. Their performance has been so bad that DOE is seriously considering terminating the contract for non-performance.
As I see it, perhaps the major risk for DRTK is in dealing with the federal government. DOE could change its mind at any time, especially since there is significant dissension among the feds not to mention the politicians about DOE privatization contracts. Some believe that privatization is not working as orignally conceived. Based on what I have read, however, at the moment things are on track for contract award this summer.
Good investing,
Juke |
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| To: Wayne G. Burnside who wrote (39) | 7/17/1998 12:57:00 PM | | From: vedia | | | |
I spoke with investor relations today:
- earning due 8/6 before the open
- several large contracts will reach decision in August or sooner
- an award for one $20 mill deal should come within weeks
Good luck to all!
vedia |
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| To: vedia who wrote (40) | 7/22/1998 10:28:00 AM | | From: JAL | | | |
Reason for today's move!
BNFL Gets Radioactive Clean-Up Deal Worth Up To
$6.9B>U.BNF
LONDON (Dow Jones)--BNFL Inc., the U.S. subsidiary of British
Nuclear Fuels PLC (U.BNF) has reached an agreement with the U.S.
Department of Energy to remove radioactive waste from the U.S., the
parent company said Wednesday.
The 20-year deal is worth up to $6.9 billion, and involves removing
radioactivity from 54 million gallons of wastes stored at an underground
U.S. government site, near Richland, Washington.
The two part contract will result in the safe treatment of about 10% of the
waste, equal to 20% to 25% of the radioactivity, by 2018.
BNFL Inc. submitted its proposal more than five months ago, and received
the go-ahead from the DOE on Tuesday, a spokesman said.
The final contract and authorization to proceed with the project is expected
after a 30-day review by Congress.
Under the deal, BNFL Inc. will work in partnership with Bechtel National
Inc., BNFL Engineering Ltd., GTS Duratek Inc. (DRTK) and Science
Applications International Corp. (X.SAP).
British Nuclear Fuels PLC is wholly-owned by the U.K. government. |
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| To: JAL who wrote (41) | 8/3/1998 1:53:00 PM | | From: jeffrey rainey | | | |
Radioactive waste management company GTS Duratek (Nasdaq: DRTK)
plummeted $2 13/16 to $6 15/16 after warning that it expects a Q2 loss
of around $0.06 a share, short of analysts' mean estimate of a profit of
$0.12. The shortfall is due to the company's decision to postpone a
radioactive metal melt campaign until Q3; one-time costs associated with
a new nuclear plant and restructuring its Oak Ridge, Tenn., operations;
and higher-than-expected costs for proposals to decommission two nuclear
plants. |
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| To: jeffrey rainey who wrote (43) | 10/29/1998 10:32:00 AM | | From: jeffrey rainey | | | |
Business Editors
COLUMBIA, Md.--(BUSINESS WIRE)--Oct. 29, 1998--
Highlights
-- 3rd Qtr 98 Net Earnings Increased 32% to $1.9 million
-- 3rd Qtr 98 EPS $0.10 per share vs. $0.07 for 3rd Qtr 97
-- 3rd Qtr 98 Revenues Increased 8% to $39.4 million
GTS Duratek (DRTK - Nasdaq) Thursday announced a 32% increase in
net earnings for the three months ended Sept. 30, 1998 to $1,889,000,
or $0.10 per share, as compared to $1,432,000, or $0.07 per share for
the comparable period in 1997.
Revenues for the quarter increased 8% to $39,391,000 as compared
to $36,355,000 for the third quarter 1997.
Commenting on the quarter, Robert E. Prince, president and CEO
stated, "In terms of our processing operations, it appears that the
streamlining and cost savings measures we implemented mid-year have
begun to pay off. We believe changes in our approach to waste
processing production and scheduling at our Bear Creek facility
resulted in more flexibility and improved performance."
"Our participation in the Hanford Tank Waste Remediation contract
awarded to the BNFL team is now underway. Our efforts are initially
being directed towards technology development support, pilot melter
operations, full-scale melter system design and project staffing
support. We believe this project will contribute approximately $17-$20
million to the Company's revenue stream in 1999."
For the nine month period ended Sept. 30, 1998, net earnings were
$2,813,000, or $0.12 per share, as compared to a net loss of
($2,234,000), or ($0.27) per share, for the nine months ended 1997.
Revenues for the nine months ended 1998 were $115,432,000 as compared
to $86,316,000 for the comparable period 1997.
The year-to-date net loss for 1997 included a $5.2 million after
tax charge the Company took in the first quarter of 1997 for losses on
its Savannah River M-Area facility due to a decision to replace the
melter box.
Year-to-date revenues for 1998 increased by $29,116,000 over the
same period in the prior year due primarily to revenues generated from
the operations of The Scientific Ecology Group acquired in April of
1997.
GTS Duratek provides services and implements proprietary
technologies to protect people and the environment from the effects of
radiation and other hazards. Major areas include:
radioactive/hazardous waste stabilization, volume reduction,
separation, recycling; extensive radioactive waste management;
transportation; and radiological engineering services.
The Company has included in its periodic filings under the
Securities Exchange Act of 1934, including its Form 10-Q for the
quarter ended June 30, 1998, pursuant to the "safe harbor" provisions
contained in the Private Securities Litigation Reform Act of 1995,
certain cautionary statements which are intended to identify certain
important factors that could cause the Company's actual results to
differ materially from those contained in forward-looking statements
of the Company made by or on behalf of the Company.
Reference is made to such statements for a complete discussion of
those factors, which include the ability to manage the Company's
commercial waste processing operations and to obtain additional waste
processing contracts, the ability to extend the Savannah River M-Area
contract, future awards by the DOE and other governmental agencies,
public and political concerns surrounding radioactive waste clean-up
efforts, and the timing of contract awards, extensions, and
non-renewals in the technical support services area.
Also, as stated herein, the timing of contracting efforts, and
timing and success in new contract awards have affected
period-to-period comparisons and are expected to do so in the future.
-0-
*T
GTS DURATEK, INC. AND SUBSIDARIES
CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS
(Unaudited)
Three Months
Ended September 30,
---------------------
1998 1997
---- ----
Revenues $39,390,989 $36,355,384
Cost of revenue 29,610,260 30,501,464
----------- -----------
Gross profit 9,780,729 5,853,920
Selling, general
and administrative expenses 6,394,003 4,428,846
--------- ----------
Income (loss) from operations 3,386,726 1,425,074
Interest income (expense), net (207,840) 51,779
---------- ----------
Income (loss) before
income taxes (benefit) and
proportionate share of
loss of joint venture 3,178,886 1,476,853
Income taxes (benefit) 1,240,044 -
--------- ----------
Income (loss) before proportionate
share of loss of joint venture 1,938,842 1,476,853
Proportionate share of loss of
joint venture (50,000) (45,000)
---------- ----------
Net income (loss) 1,888,842 1,431,853
Preferred stock dividends and
charges for accretion 376,770 375,951
--------- ----------
Net income (loss) attributable to
common stockholders $1,512,072 $1,055,902
========== ===========
Basic net income (loss) per share $0.11 $0.08
========== ===========
Diluted net income (loss) per share $0.10 $0.07
========== ===========
Basic weighted average
common stock outstanding 13,223,594 12,662,474
========== ===========
Diluted weighted average
common stock and dilutive
securities outstanding 20,838,002 19,644,644
========== ===========
Nine Months
Ended September 30,
---------------------
1998 1997
---- ----
Revenues $115,432,142 $86,316,446
Cost of revenue 91,108,701 79,273,311
------------ -----------
Gross profit 24,323,441 7,043,135
Selling, general
and administrative expenses 19,030,115 10,479,443
------------ -----------
Income (loss) from operations 5,293,326 (3,436,308)
Interest income (expense), net (463,240) 586,869
------------- -----------
Income (loss) before
income taxes (benefit) and
proportionate share of
loss of joint venture 4,830,086 (2,849,439)
Income taxes (benefit) 1,867,500 (750,000)
------------- -----------
Income (loss) before proportionate
share of loss of joint venture 2,962,586 (2,099,439)
Proportionate share of loss of
joint venture (150,000) (135,000)
------------- -----------
Net income (loss) 2,812,586 (2,234,439)
Preferred stock dividends and
charges for accretion 1,129,723 1,127,232
------------- -----------
Net income (loss) attributable to
common stockholders $1,682,863 ($3,361,671)
============= ============
Basic net income (loss) per share $0.13 ($0.27)
============= ============
Diluted net income (loss) per share $0.12 ($0.27)
============= ============
Basic weighted average
common stock outstanding 12,955,053 12,553,551
============= ============
Diluted weighted average
common stock and dilutive
securities outstanding 14,234,122 12,553,551
============= ============
*T
--30--SF/ph*
CONTACT: GTS Duratek
Diane R. Brown, Investor Relations
Robert F. Shawver, Exec. V.P.
410/312-5100 - www.gtsduratek.com
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