Avalon Holdings Loses $5,000 in Second Quarter

WARREN, Ohio – Avalon Holdings Corp. reported a second-quarter net loss to shareholders of $5,000 on net operating revenues of $13.96 million compared to a net loss to shareholders of $88,000, or three cents a share, the same quarter a year ago on net operating revenues of $13.02 million.

The first-quarter net loss to shareholders was $1.04 million, or 27 cents per share.

The latest loss to shareholders was so relatively small it didn’t register as a loss per share on its earnings release.

Avalon Holdings provides waste management services to industrial, commercial, municipal and other government customers in markets in the Northeast and Midwest, captive landfill management services and saltwater injection well operations. It also owns the Avalon Golf and Country Club, which includes running golf courses and country clubs in Trumbull County, Ohio, and Mercer County, Pa., and the Avalon Inn in Howland Township.

The net loss Avalon reported in its financial tables was $137,000 with a loss before income taxes of $120,000. First-quarter net loss was $1.22 million before income taxes while second-quarter 2014 net loss was reported as $138,000, $116,000 before a provision for income taxes.

Avalon attributed most of its net losses to a “non-controlling interest in a subsidiary.”

Copyright 2022 The Business Journal, Youngstown, Ohio.