Company News

2018 Operating Revenue Up at Avalon Holdings Corp.

WARREN, Ohio — Avalon Holdings Corp. reports fourth quarter net operating revenues of $15.9 million in the fourth quarter ended Dec. 31 compared to $14.2 million in the fourth quarter of 2017.

The company owns Avalon Resorts and Clubs Inc., which includes the operation of a hotel and its associated resort amenities, three golf courses and related country clubs and a multipurpose recreation center.

Avalon Holdings also provides waste management services to industrial, commercial, municipal and governmental customers in selected markets, captive landfill management services and salt water injection well operations.

The company said it incurred a net loss attributable to common shareholders of $1.8 million in the fourth quarter with a net loss attributable to shareholders of less than $0.1 million in the fourth quarter of 2017.

Basic net loss per share was 47 cents in the fourth quarter compared with a basic net loss of one cent in the fourth quarter of 2017.

For the year ended Dec. 31, net operating revenues were $62.2 million compared with $55.8 million for 2017. Net loss attributable to common shareholders was $1.1 million for 2018 compared with a net loss of $300,000 for 2017.  Basic net loss per share attributable was 30 cents in 2018, eight cents in 2017.

Pictured at top: The ninth hole at Avalon Lakes Golf Club in Howland Township.

Published by The Business Journal, Youngstown, Ohio.