Avalon Reports Rebound in 3Q Net Income of $800,000
WARREN, Ohio – Avalon Holdings Corp., owner of Avalon Resorts and Clubs, reported third-quarter net income of $800,000, or 21 cents a share to its holders of common stock.
This compares to third-quarter net income a year ago of $500,000, or 14 cents per common share.
Net operating revenues for the quarter ended Sept. 30 were $19.1 million compared to a $14.6 million quarter a year-ago, Avalon said.
In addition to operating resorts and clubs in Howland and Vienna townships and in Hermitage, Pa., Avalon provides waste management services to industrial, commercial, municipal and government customers in the Northeast and Midwest, captive landfill management services and operates brine injection wells.
For the first nine months, Avalon reported net income of $300,000, or eight cents a share, on net operating revenues of $45.8 million compared to the same period in 2015 when it reported a net loss of $500,000, or a loss of 14 cents a share, on net operating revenues of $39.2 million.
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