-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, COZpbOhqTJUrJ0vCxXQYCFHXDEEpbFB1FD0ybfBW+iZK4ulckImPM3lYIFhbJRQq PJ0zAGKVcn9o5u5SmZb8BA== 0001015402-05-001273.txt : 20050314 0001015402-05-001273.hdr.sgml : 20050314 20050314121012 ACCESSION NUMBER: 0001015402-05-001273 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20050314 ITEM INFORMATION: Other Events FILED AS OF DATE: 20050314 DATE AS OF CHANGE: 20050314 FILER: COMPANY DATA: COMPANY CONFORMED NAME: AMERICAN ECOLOGY CORP CENTRAL INDEX KEY: 0000742126 STANDARD INDUSTRIAL CLASSIFICATION: REFUSE SYSTEMS [4953] IRS NUMBER: 953889638 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-11688 FILM NUMBER: 05677648 BUSINESS ADDRESS: STREET 1: 805 W IDAHO STREET 2: STE 200 CITY: BOSIE STATE: ID ZIP: 83702 BUSINESS PHONE: 2083318400 MAIL ADDRESS: STREET 1: 805 W IDAHO STREET 2: STE 200 CITY: BOISE STATE: ID ZIP: 83702 8-K 1 body.txt AMERICAN ECOLOGY 8-K 3-14-2005 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report (Date of earliest event reported): March 14, 2005 AMERICAN ECOLOGY CORPORATION (EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER) DELAWARE 0-11688 95-3889638 -------- ------- ---------- (State or other (Commission File Number) (I.R.S. Employer jurisdiction of Identification Number) corporation or organization) Lakepointe Centre I, 300 E. Mallard, Suite 300 Boise, Idaho 83706 (Address of principal executive ----- offices) (Zip Code) (208) 331-8400 -------------- (Registrant's telephone number, including area code) 1 ITEM 8.01. OTHER EVENTS On March 14, 2005 American Ecology Corporation issued a press release announcing that first quarter results would be impacted by customers not shipping waste as rapidly as expected. A copy of the press release is attached as exhibit 99 and incorporated by reference herein. Exhibit 99 Press Release dated March 14, 2005 titled "AMERICAN ECOLOGY LOWERS FIRST QUARTER OUTLOOK, REAFFIRMS FULL YEAR OPERATING INCOME GROWTH GUIDANCE" 2 SIGNATURES - ---------- Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. AMERICAN ECOLOGY CORPORATION (Registrant) Date: March 14, 2005 By:/S/ James R. Baumgardner ------------------------ James R. Baumgardner Senior Vice President, Chief Financial Officer, Secretary and Treasurer 3 EXHIBIT INDEX Exhibit Description - ------- ----------- Exhibit 99 Press Release dated March 14, 2005 titled "AMERICAN ECOLOGY LOWERS FIRST QUARTER OUTLOOK, REAFFIRMS FULL YEAR OPERATING INCOME GROWTH GUIDANCE" 4 EX-99 2 exhibit_99.txt EXHIBIT 99 EXHIBIT 99 NEWS RELEASE For Immediate Release Contact: Jim Baumgardner (208) 331-8400 info@americanecology.com www.americanecology.com - ------------------------ ----------------------- AMERICAN ECOLOGY LOWERS FIRST QUARTER OUTLOOK, REAFFIRMS FULL YEAR OPERATING INCOME GROWTH GUIDANCE COMPANY ANTICIPATES ANNOUNCING DIVIDEND POLICY AT ANNUAL SHAREHOLDERS MEETING BOISE, Idaho March 14, 2005 - American Ecology Corporation [NASDAQ: ECOL] today announced that certain customers have not shipped waste as rapidly as expected to the Company's waste disposal facilities. These delays will adversely affect first quarter results, however, the Company maintains its projection of 15 percent growth in operating income for 2005. "While waste receipts and resulting revenue will be lower than planned for the first quarter, the Company did not lose any major projects. We expect to receive and dispose of the delayed waste shipments during the balance of 2005," stated Stephen Romano, President and Chief Executive Officer. "Our management team remains confident we will achieve 15 percent growth in operating income this year," added Romano. Several large cleanup projects have not shipped waste as rapidly as expected to the Company's Grand View, Idaho hazardous waste disposal facility. Shipments to its rate-regulated Richland, Washington facility have also been slower than initially projected. However, the Richland facility has a minimum revenue requirement for 2005 which management expects will be achieved. Also, the Company's hazardous waste facility in Robstown, Texas continued to experience reduced treatment business following a July 2004 fire. In Texas, the Company is constructing a new waste treatment building and expects to resume full treatment services late in the second quarter, at which time management expects to conclude its fire-related business interruption claim. To date, the Company has filed claims for more than $2 million for business interruption, of which approximately $431,000 was recognized in 2004. The Company also announced that its Board of Directors is evaluating dividend policy and is considering changing from an annual to quarterly dividend. The Company anticipates that an announcement will be made on dividend policy at its annual shareholders meeting, to be held on May 25, 2005 in Boise. "We believe our cash position and outlook supports our ability to reach our growth objectives and pay dividends to our shareholders," added Romano. American Ecology Corporation, through its subsidiaries, provides radioactive, PCB, hazardous and non-hazardous waste services to commercial and government customers throughout the United States, such as nuclear power plants, steel mills, medical and academic institutions, refineries and chemical manufacturing facilities. Headquartered in Boise, Idaho, the Company is the oldest radioactive and hazardous waste services company in the United States, having operated for more than fifty years. This press release contains forward-looking statements that are based on our current expectations, beliefs, and assumptions about the industry and markets in which American Ecology Corporation and its subsidiaries operate. Actual results may differ materially from what is expressed herein and no assurance can be given that the Company will successfully meet its 2005 earnings estimates, receive all projected waste shipments, prevail in pending litigation, collect on pending insurance claims, or declare a quarterly dividend. For information on other factors that could cause actual results to differ from expectations, please refer to American Ecology Corporation's most recent Annual Report on Form 10-K and Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission. ## -----END PRIVACY-ENHANCED MESSAGE-----