Perma-Fix Clocks ~40% Revenue Decline In Q4

Perma-Fix Environmental Services, Inc. PESI reported a fourth-quarter revenue decline of 39.6% year-over-year to $17.12 million.
Revenue from the Services Segment decreased by 63.7% Y/Y to $8.2 million, and for the Treatment Segment increased 56.1% Y/Y to $8.9 million in the quarter.
The gross margin contracted by 380 bps to 7.5%.
EPS loss from continuing operations was $(0.18) versus $0.01 in 4Q20.
Perma-Fix recorded a loss from operations of $(2.23) million, compared to an income of $0.188 million a year ago.
Adjusted EBITDA for the quarter was negative $(1.73) million, versus $0.709 million in 4Q20.
The company has secured strategic and high-profile projects within the Services Segment, resulting in ~$66 million in project backlog.
Perma-Fix held a cash balance of $4.44 million as of December 31, 2021.
Price Action: PESI shares are trading lower by 9.55% at $4.99 on the last check Thursday.