Avalon, a U.S. operator of waste management and resort businesses, reported year-over-year revenue growth in the first quarter as its waste management activities expanded. The company’s net loss narrowed compared with the prior-year period, although it remained in the red for the quarter.
For the quarter, Avalon posted a net loss of $1.28 million, an improvement from the comparable period a year earlier. Basic net loss per share amounted to $0.32, versus $0.38 in the prior-year quarter.
On an operating basis, Avalon reported an operating loss of $736,000 for the quarter. Pretax loss for the period aggregated to $1.24 million.
The firm’s revenue performance was driven largely by its waste management segment. Revenue from waste management services increased to $11.5 million in the quarter, up from $9.7 million in the same period a year earlier. That increase in waste-related revenue was the primary factor behind the company’s overall top-line improvement.
By contrast, revenue generated by Avalon’s golf and related resort operations declined slightly, falling to $6.2 million from $6.4 million in the prior-year quarter.
Management did not provide guidance for upcoming periods.
Summary of results
- Net loss: $1.28 million for the quarter; basic net loss per share: $0.32 (prior year: $0.38).
- Operating loss: $736,000; Pretax loss: $1.24 million.
- Waste management revenue: $11.5 million (prior year: $9.7 million); Golf and related operations revenue: $6.2 million (prior year: $6.4 million).
- No guidance provided for future periods.
Context and implications
The quarter’s results show the company is currently generating stronger revenue from its waste management operations, which offset a modest decline in its resort-related revenue stream. Despite the top-line improvement, Avalon remains unprofitable on both an operating and pretax basis for the quarter, and the absence of guidance leaves the near-term outlook unspecified.
What the company disclosed
Avalon disclosed detailed quarterly figures but did not offer forward-looking commentary or guidance for future reporting periods.