8-K

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) November 7, 2007        

PERMA-FIX ENVIRONMENTAL SERVICES, INC.

(Exact name of registrant as specified in its charter)

Delaware	1-11596	58-1954497
(State or other	(Commission File	(IRS Employer
jurisdiction of	Number)	Identification No.)
incorporation)

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 (see General Instruction A.2. below):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Section 2 - Financial Information

Item 2.02 -  Results of Operations and Financial Condition

On November 7, 2007 at 11:00 a.m. EST, Perma-Fix Environmental Services, Inc. (the “Company”) will hold a conference call broadcast live over the Internet. A press release dated October 22, 2007 announcing the conference call, is attached hereto as Exhibit 99.1 and is incorporated herein by reference. A transcript of the conference call will also be available on the Company’s web page at www.perma-fix.com.

On November 7, 2007, the Company issued a press release to report its financial results for the three months and nine months ended September 30, 2007. The press release is attached hereto as Exhibit 99.2 and is incorporated herein by reference.

The information combined in this Item 2.02 of this Form 8-K and the Exhibits attached hereto are being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Act of 1934 (as amended), or otherwise subject to the liabilities of such section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 (as amended), except as shall be expressly set forth by specific reference in such filing.

Section 9 - Financial Statements and Exhibits

Item 9.01 - Financial Statements and Exhibits

(c)Exhibits

Exhibit Number Description

99.1 Press release dated October 22, 2007

99.2 Press release dated Novmeber 7, 2007

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

		PERMA-FIX ENVIRONMENTAL SERVICES, INC.
Dated:	November 7, 2007	By:	/s/ Steven Baughman
			Steven Baughman
			Vice President and
			Chief Financial Officer

EX-99.1

Perma-Fix Schedules Third Quarter 2007

Earnings Release and Conference Call

ATLANTA - October 22, 2007 — Perma-Fix Environmental Services, Inc. (NASDAQ: PESI), a leading provider of nuclear waste treatment services, today announced that it will release its third quarter fiscal 2007financial results the morning of Wednesday, November 7, 2007.

In conjunction with the Company’s third quarter fiscal 2007 earnings release, the Company will host a conference call at 11:00 a.m. ET on Wednesday, November 7, 2007. The call will be available on the Company’s website at www.perma-fix.com, or by calling 866-585-6398 for U.S. callers, or 416-849-9626 for international callers. The conference call will be led by Dr. Louis F. Centofanti, Chairman and CEO, and Steven Baughman, Vice President and Chief Financial Officer, of Perma-Fix Environmental Services, Inc.

A webcast will also be archived on the Company’s website and a telephone replay of the call will be available approximately one hour following the call, through midnight November 14, 2007, and can be accessed by calling: 866-245-6755 (U.S. callers) or 416-915-1035 (international callers) and entering conference ID 284021.

Perma-Fix Environmental Services, Inc. is a national environmental services company, providing unique mixed waste and industrial waste management services. The Company has increased its focus on the nuclear services segment, which provides radioactive and mixed waste treatment services to hospitals, research laboratories and institutions, numerous federal agencies, including DOE and the U.S. Department of Defense, and nuclear utilities. The industrial services segment provides hazardous and non-hazardous waste treatment services for a diverse group of customers including, Fortune 500 companies, numerous federal, state and local agencies and thousands of smaller clients. The Company operates nine major waste treatment facilities across the country.

Please visit us on the World Wide Web at http://www.perma-fix.com.

*****

Contacts:
Dr. Louis F. Centofanti, Chairman and CEO	David K. Waldman-US Investor Relations
Perma-Fix Environmental Services, Inc.	Crescendo Communications, LLC
(770) 587-9898	(212) 671-1020 x101

Herbert Strauss-European Investor Relations

herbert@eu-ir.com

+43 316 296 316

EX-99.2

Perma-Fix Announces Results for the Third Quarter of 2007

Reports Progress on Divestiture of Industrial Segment

ATLANTA - November 7, 2007 — Perma-Fix Environmental Services, Inc. (NASDAQ: PESI) today announced results for the third quarter ended September 30, 2007.

Dr. Louis F. Centofanti, Chairman and Chief Executive Officer, stated, “We are pleased to report that overall sales at Perma-Fix were up for the quarter, driven by the Nuclear Segment, which benefited from our recent acquisition of PEcoS, a facility strategically located adjacent to the Hanford site in Richland, Washington. This new radioactive and mixed waste facility, which we have renamed Perma-Fix Northwest Richland, Inc., began contributing revenue just prior to the start of the third quarter. We are very pleased with the initial results of the facility. Given the scale and complexity of the waste at the Hanford site, we look forward to steadily increasing revenue from this facility as projects in the pipeline begin to ramp up and new ones come online. We are also installing new processes for the treatment of mixed waste at this facility that will provide future expansion opportunities. We generated additional revenue during the quarter as a result of a process we recently put in place to treat mid-level radioactive waste at our facility M&EC South Bay.”

“Within the Nuclear Segment, the company experienced a shift in the product mix towards higher volume yet lower margin wastes, which negatively impacted both margins and EBITDA for the third quarter. However, we attribute this decline to normal waste cycles at the Department of Energy (DOE). Our Nuclear Segment also incurred additional expenses as we stepped-up our bidding activity on a number of DOE proposals for new nuclear and mixed waste remediation projects in 2008. We fully expect to participate in several of these large projects and anticipate both near-term and long term growth opportunities within our Nuclear Segment as we expand our operations at the Hanford site, move into the treatment of higher level waste streams, and continue to bid on an increasing number of new DOE projects.”

Dr. Centofanti concluded, “Earlier this year, we made the strategic decision to focus exclusively on the multi-billion dollar market for nuclear waste services. To that end, we are in the process of divesting our Industrial Segment to focus our expertise entirely on the higher margin nuclear services. As a result, we absorbed a much higher percentage of the corporate overhead within our Nuclear Segment, but expect to adjust these expenses accordingly following the divestiture of our Industrial Segment. We continue to make progress on the sale of the Industrial Segment. Overall, we remain extremely excited about the outlook for our business within the untapped market for nuclear waste treatment—given the high barriers to entry, as well as our strong leadership position in the industry.”

Financial Results

Revenue for the third quarter of 2007 increased 14% to $13.8 million, versus $12.1 million for the same period last year. Revenue for the Nuclear Segment increased 20% to $13.2 million versus $11.0 million in the same period last year. The increase in Nuclear Segment revenue for the quarter reflected higher volumes of waste including treatment at the Company’s new Perma-Fix Richland facility. Revenues from the Engineering Segment declined to $629,000 versus $1.1 million for the same period last year due in part to a large event project in 2006 that did not repeat in 2007. Operating loss from continuing operations for the third quarter was $124,000, versus operating income of $600,000 for the same period last year. The decrease in operating income primarily reflects the lower margin waste treated within the Nuclear Segment. Loss from discontinued operations, net of taxes, totaled $1.8 million. Loss from discontinued operations included a tangible asset impairment of Perma-Fix of Dayton (PFD) assets for $564,000 and a litigation settlement charge between PFD and the Citizens Suit of $825,000, relating to an agreement in principle to settle the citizen’s suit portion of a lawsuit against PFD, representing a potential settlement of this portion of the lawsuit for approximately $1,325,000 less $500,000 that our insurer has agreed to pay. During the second quarter of 2007, we reserved $800,000 in connection with an agreement in principle to settle the government’s portion of the above lawsuit against PFD. We are in discussions with our insurer to determine if it will increase the amount that it will pay towards the settlement of the citizen’s suit and whether it will pay any portion of a proposed settlement with the government. Settlement of this lawsuit is subject to numerous conditions being met. Net loss applicable to common stock for the third quarter of 2007 was $2.0 million, or a loss of $0.04 per share, versus net income of $330,000 or $0.01 per share, for the same period last year.

The Company’s EBITDA from continuing operations was $1.3 million during the quarter ended September 30, 2007, as compared to approximately $1.6 million for the same period of 2006. The Company defines EBITDA as earnings before interest, taxes, depreciation and amortization. EBITDA is not a measure of performance calculated in accordance with accounting principles generally accepted in the United States (“GAAP”), and should not be considered in isolation of, or as a substitute for, earnings as an indicator of operating performance or cash flows from operating activities as a measure of liquidity. The Company believes the presentation of EBITDA is relevant and useful by enhancing the readers’ ability to understand the Company’s operating performance. The Company’s management utilizes EBITDA as a means to measure performance. The Company’s measurements of EBITDA may not be comparable to similar titled measures reported by other companies. The table below reconciles EBITDA, a non-GAAP measure, to net income for the three months ended September 30, 2007 and 2006.

		Quarter Ended Sept. 30						Nine Months Ended September 30,
(In thousands)		2007			2006			2007			2006
Net Income (loss) - Continuing Operations	$	(124	)		600			1,211		$	3,558
Adjustments:
Depreciation & Amortization		1,118			808			2745			2,322
Interest Income		(71	)		(100	)		(238	)		(189	)
Interest Expense		476			276			949			995
Interest Expense - Financing Fees		48			48			143			144
Income Tax (Recovery) Expense		(161	)		(26	)		23			152
EBITDA	$	1,286		$	1,606		$	4,833		$	6,982

The tables below present certain financial information for the business segments, excluding allocation of corporate expenses:

		Quarter Ended Sept. 30, 2007			Quarter Ended Sept. 30, 2006
(In thousands)		Nuclear	Engineering		Nuclear	Engineering
Net revenues	$	13,211	629	$	11,023	1,065
Gross profit		4,035	231		4,127	241
Segment profit (loss)		1,319	70		1,997	95

		Nine Months Ended Sept. 30, 2007			Nine Months Ended Sept. 30, 2006
(In thousands)		Nuclear	Engineering		Nuclear	Engineering
Net revenues	$	38,560	1,738	$	36,288	2,737
Gross profit		13,106	564		14,662	692
Segment profit (loss)		5,625	162		8,078	246

About Perma-Fix Environmental Services

Perma-Fix Environmental Services, Inc. is a national environmental services company, providing unique mixed waste and industrial waste management services. The Company has increased its focus on the nuclear services segment, which provides radioactive and mixed waste treatment services to hospitals, research laboratories and institutions, numerous federal agencies including DOE and the U.S. Department of Defense and nuclear utilities. The industrial services segment provides hazardous and non-hazardous waste treatment services for a diverse group of customers including Fortune 500 companies, numerous federal, state and local agencies and thousands of smaller clients. The Company operates nine major waste treatment facilities across the country.

This press release contains “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, given the amount and complexity of the waste at the Hanford site, and we look forward to steadily increasing revenue from this facility as projects in the pipeline begin to ramp up and new ones come online; installing new processes for the treatment of mixed waste at our Perma-Fix Northwest Richland, Inc. facility that will provide future expansion opportunities; fully expect to participate in several new DOE nuclear and mixed waste remediation projects in 2008; anticipate both near-term and long term growth opportunities within our Nuclear Segment; continue to bid on an increasing number of new DOE projects; settlement of this lawsuit is subject to numerous conditions being met; expect to adjust corporate overhead expenses accordingly following the divestiture of our Industrial Segment; we remain extremely excited about the outlook for our business within the untapped market for nuclear waste treatment-given the high barriers to entry, as well as our strong leadership position in the industry and the divestiture of our Industrial Segment. These 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 apply and market our technologies; that neither the federal government nor any other party to a subcontract involving the federal government terminates or renegotiates any material contract granted to us prior to expiration of the term of the contract, as such contracts are generally terminable or renegotiable on 30 day notice, at the government’s option; or the government or such other party to a contract granted to us fails to abide by or comply with the contract or to deliver waste as anticipated under the contract; that Congress provides funding for the new remediation projects; and the additional factors referred to under "Special Note Regarding Forward-Looking Statements" of our 2006 Form 10-K and the Forward-Looking Statements discussed in our Forms 10-Q for the quarter ending March 31, 2007 and June 30, 2007. 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.

FINANCIAL TABLES FOLLOW

Contacts:
Dr. Louis F. Centofanti, Chairman and CEO	David K. Waldman-US Investor Relations
Perma-Fix Environmental Services, Inc.	Crescendo Communications, LLC
(770) 587-5155	(212) 671-1020 x101
Herbert Strauss-European Investor Relations
herbert@eu-ir.com
+43 316 296 316

PERMA-FIX ENVIRONMENTAL SERVICES, INC.

CONSOLIDATED INCOME STATEMENT

FOR THE QUARTER ENDED SEPTEMBER 30, 2007

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
(Amounts in Thousands, Except for Per Share Amounts)	2007			2006			2007			2006
Net revenues	$	13,840		$	12,088		$	40,298		$	39,025
Cost of goods sold		9,574			7,720			26,628			23,671
Gross profit		4,266			4,368			13,670			15,354
Selling, general and administrative expenses		4,061			3,564			11,535			10,654
(Gain) loss on disposal of property and equipment		(4	)		¾			(1	)		1
Income from operations		209			804			2,136			4,699
Other income (expense):
Interest income		71			100			238			189
Interest expense		(476	)		(276	)		(949	)		(995	)
Interest expense-financing fees		(48	)		(48	)		(143	)		(144	)
Other		(41	)		(6	)		(48	)		(39	)
(Loss) income from continuing operations before taxes		(285	)		574			1,234			3,710
Income tax (recovery) expense		(161	)		(26	)		23			152
(Loss) income from continuing operations		(124	)		600			1,211			3,558
Loss from discontinued operations, net of taxes		(1,828	)		(270	)		(3,025	)		(724	)
Net (loss) income		(1,952	)		330			(1,814	)		2,834
Preferred Stock dividends		¾			¾			¾			¾
Net (loss) income applicable to Common Stock	$	(1,952	)	$	330		$	(1,814	)	$	2,834
Net income (loss) per common share - basic
Continuing operations	$	¾		$	.01		$	.02		$	.08
Discontinued operations		(.04	)		¾			(.05	)		(.02	)
Net income (loss) per common share	$	(.04	)	$	.01		$	(.03	)	$	.06
Net income (loss) per common share - diluted
Continuing operations	$	¾		$	.01		$	.02		$	.08
Discontinued operations		(.04	)		¾			(.05	)		(.02	)
Net income (loss) per common share	$	(.04	)	$	.01		$	(.03	)	$	.06
Number of common shares used in computing
net income (loss) per share:
Basic		52,843			50,541			52,349			46,851
Diluted		52,843			51,430			53,673			47,414

PERMA-FIX ENVIRONMENTAL SERVICES, INC.

CONSOLIDATED BALANCE SHEETS

AS OF SEPTEMBER 30, 2007

(Amounts in Thousands, Except for Share Amounts)	September 30, 2007 (Unaudited)			December 31, 2006
ASSETS
Current assets:
Cash	$	108		$	2,528
Restricted cash		35			35
Investment trading securities		84			-
Accounts receivable, net of allowance for doubtful
account of $128 and $168		10,204			9,488
Unbilled receivables-current		11,383			12,313
Prepaid expenses and other		4,387			4,776
Current assets included in assets held for sale,
net of allowance for doubtful accounts of $274 and $247		6,069			7,100
Total current assets	$	32,270		$	36,240
Net property and equipment		46,892			33,345
Net Property and equipment included in assets held for sale,
net of accumulated depreciation of $12,583 and $13,341		12,568			13,281
Permits		15,625			11,025
Goodwill		9,418			1,330
Unbilled receivable - non-current		3,276			2,600
Finite Risk Sinking Fund		5,961			4,518
Other assets		2,627			1,954
Intangibles and other assets included in assets held for sale		2,369			2,369
Total assets	$	131,006		$	106,662
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Accounts payable	$	3,753		$	2,456
Accrued expenses and other		18,559			12,146
Current liabilities included in assets held for sale		8,006			6,737
Current portion of long-term debt		4,078			2,092
Total current liabilities		34,396			23,431
Other long-term liabilities		12,360			8,191
Long-term liabilities included in assets held for sale		3,722			3,895
Long-term debt, less current portion		13,547			5,407
Total long-term liabilities		29,629			17,493
Total liabilities		64,025			40,924
Preferred Stock of subsidiary, $1.00 par value; 1,467,396		1,285			1,285
shares authorized, 1,284,730 shares issued and
outstanding, liquidation value $1.00 per share
Stockholders’ equity:
Common Stock, $.001 par value; 75,000,000 shares authorized,
53,055,924 and 52,053,744 shares issued, including 0 shares held
and 988,000 shares of treasury stock retired in 2006, respectively		53			52
Additional paid-in capital		95,996			92,980
Stock subscription receivable		(39	)		(79	)
Accumulated deficit		(30,314	)		(28,500	)
Total stockholders' equity		65,696			64,453
Total liabilities and stockholders' equity	$	131,006		$	106,662