-----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, LUMhl7IGEp63FMz+Go3B/Zj/i0S/QMHRBGatQHhx+fm9fEU2lIix94Tn5JVg35PK 68hlwF7S9zUVwgJ1rYGhsQ== 0001144204-07-027604.txt : 20070521 0001144204-07-027604.hdr.sgml : 20070521 20070521145155 ACCESSION NUMBER: 0001144204-07-027604 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20070516 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20070521 DATE AS OF CHANGE: 20070521 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PERMA FIX ENVIRONMENTAL SERVICES INC CENTRAL INDEX KEY: 0000891532 STANDARD INDUSTRIAL CLASSIFICATION: HAZARDOUS WASTE MANAGEMENT [4955] IRS NUMBER: 581954497 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-11596 FILM NUMBER: 07867585 BUSINESS ADDRESS: STREET 1: 8302 DUNWOODY PLACE STREET 2: SUITE 250 CITY: ATLANTA STATE: GA ZIP: 30350 BUSINESS PHONE: 7705879898 MAIL ADDRESS: STREET 1: 8302 DUNWOODY PLACE STREET 2: SUITE 250 CITY: ATLANTA STATE: GA ZIP: 30350 8-K 1 v076266_8k.txt SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 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) May 16, 2007 -------------------------------- PERMA-FIX ENVIRONMENTAL SERVICES, INC. - -------------------------------------------------------------------------------- (Exact name of registrant as specified in its charter) Delaware 1-11596 58-1954497 - ------------------------------- ---------------- ------------------ (State or other jurisdiction of (Commission File (IRS Employer incorporation) Number) Identification No.) 8302 Dunwoody Place, Suite 250, Atlanta, Georgia 30350 - ------------------------------------------------ --------- (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (770) 587-9898 ---------------------------- Not applicable - -------------------------------------------------------------------------------- (Former name or former address, if changed since last report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: |__| Written communications pursuant to Rule 425 under the Securities Act |__| Soliciting material pursuant to Rule 14a-12 under the Exchange Act |__| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act |__| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act Section 8 - Other Events Item 8.01 - Other Events On May 16, 2007, our Board of Directors authorized management to consider the possible sale of all or a part of our Industrial Segment. We have received certain offers to buy all, or a part of, our Industrial Segment and anticipate receiving additional offers in the near future. The decision to consider the possible sale of all, or a part of, our Industrial Segment is based on our belief that our Nuclear Segment represents the true long-term growth driver for our business. Section 9 - Financial Statements and Exhibits. Item 9.01. - Financial Statements and Exhibits. (d) Exhibits 99.1 Press release dated May 18, 2007, "Perma-Fix Considers Possible Sale of its Industrial Segment". 2 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 hereunto duly authorized. Dated: May 21, 2007. PERMA-FIX ENVIRONMENTAL SERVICES, INC. By: /s/ Steven T. Baughman ------------------------------------ Steven T. Baughman Vice President and Chief Financial Officer 3 EX-99.1 2 v076266_ex99-1.txt Perma-Fix Considers Possible Sale of Its Industrial Segment ATLANTA, May 18 /PRNewswire-FirstCall/ -- Perma-Fix Environmental Services, Inc. (Nasdaq: PESI) (BSE: PESI; Germany: PES.BE) today announced that its Board of Directors has authorized management to consider the possible sale of all or a part of its Industrial Segment. The Company has received certain offers to buy all, or a part of, its Industrial Segment and anticipates receiving additional offers in the near future. Dr. Louis F. Centofanti, Chairman and Chief Executive Officer, stated, "While the Industrial Segment may hold untapped potential, we believe the Nuclear Segment represents the true long-term growth driver for our business. First, we see the Department of Energy increasing its allocation for the treatment of low-level mixed waste at nuclear weapons facilities across the country in the coming years. Second, with our recent definitive agreement to acquire the PEcoS nuclear waste facility, located adjacent to the Hanford weapons facility, we see enormous opportunities for the treatment of nuclear waste at the Hanford site, which by nearly all estimates, represents the largest environmental clean-up project in the history of the nation. Third, we recently completed construction on our M&EC south bay special waste processing area and have begun treatment of highly specialized wastes during the second quarter. The new south bay enables Perma-Fix to enter an untapped market treating higher level radioactive mixed waste and we believe we are the only company with the licenses and technology to treat these complex waste streams. Given these attractive growth opportunities and the heightened interest in our industrial assets, we made the decision to explore the possible sale of our Industrial Segment." The Industrial Segment's consolidated revenues for 2006 and first quarter 2007 were approximately 40.0% and 35.9% of the Company's consolidated revenues for 2006 and the first quarter 2007, respectively. For 2006 and the first quarter 2007, the Company's Industrial Segment, on a consolidated basis, had net losses of approximately $2.0 million and $1.7 million, respectively, as compared to the Company's consolidated net income of $4.7 million for 2006 and net loss of $1.1 million for the first quarter 2007. The Company's Industrial Segment manages hazardous and non-hazardous waste and has TSD facilities located in Dayton, Ohio; Orlando, Florida; Ft. Lauderdale, Florida; Tulsa, Oklahoma; Valdosta, Georgia; and Baltimore, Maryland. This press release contains certain "forward-looking statements" which are based largely on the Company's expectations and are subject to various business risks and uncertainties, certain of which are beyond the Company's control. Forward-looking statements include, but are not limited to, receipt of additional offers to purchase our Industrial Segment; the Nuclear segment represents the true long-term growth driver for our business; Department of Energy increasing its allocation for the treatment of mixed waste at nuclear weapons facilities; enormous opportunities for the treatment of nuclear waste at the Hanford facility; and treatment of higher level mixed waste in the newly constructed south bay at our M&EC facility. The forward-looking statements are intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. While the Company believes the expectations reflected in this news release are reasonable, it can give no assurance such expectations will prove to be correct. There are a variety of factors which could cause future outcomes to differ materially from those described in this release, including, without limitation, future economic conditions; industry conditions; competitive pressures; and our ability to market our Industrial Segment to obtain the price we deem appropriate and negotiation of an agreement. The Company makes no commitment to disclose any revisions to forward-looking statements, or any facts, events or circumstances after the date hereof that bear upon forward- looking statements. Please visit us on the World Wide Web at http://www.perma-fix.com. Contacts: Dr. Louis F. Centofanti, Chairman and CEO Perma-Fix Environmental Services, Inc. (770) 587-9898 David K. Waldman-US Investor Relations Crescendo Communications, LLC (212) 671-1020 x101 Herbert Strauss-European Investor Relations herbert@eu-ir.com +43 316 296 316 -----END PRIVACY-ENHANCED MESSAGE-----