GTS Duratek posts large gains in profitability

March 14, 1996|By Michael Dresser | Michael Dresser,SUN STAFF

GTS Duratek, a Columbia environmental services and technology company, has reported a more than eightfold profit increase in last year's fourth quarter, compared with the same quarter of 1994.

The company recorded a net profit of $300,000, compared with $35,000 in the previous fourth quarter. On a per-share basis, the earnings figure was reported as a loss of 1 cent because of dividend payouts to holders of preferred stock. The company earned 1 cent per share during the previous quarter.

Operating profits, which the company considers the more important indicator, almost tripled from the same quarter of 1994, to $924,000 from $313,000.

The big jumps in profitability came on a 13.2 percent gain in revenues, from $10.1 million to $11.5 million. Executive Vice President Bob Shawver explained that GTS Duratek Inc. gained revenue in the high-margin business of processing waste for the Department of Energy.

For the year, GTS Duratek's profits increased more than 400 percent, to $1.4 million, from $257,000 in 1994. Revenues rose 12.3 percent, to $40.4 million from $36 million the previous year.

Pub Date: 3/14/96

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