Duratek to turn around losses

30 May 2001

Low-level waste service company Duratek expects to recover from the $12.5 million loss that it made in the fourth quarter 2000, but says it will still make a significant loss in the first quarter 2001 before returning to profit in the second quarter.

Duratek reported a $9.1 million loss for 2000 due to problems with starting up new commercial waste strategies. It will announce its first quarter 2001 results shortly, and expects results to improve during the remainder of the year. The company forecasts revenues of $280-$300 million in 2001 and net income of $6-$7 million. Much of this growth would come from the acquisition of Waste Management Nuclear Services.

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