Perma-Fix Environmental Services takes on the dirty job of handling radioactive waste

Provides nuclear and waste-management services Treats radioactive and mixed waste for hospitals, research labs and institutions, and top federal agencies Expanded low-level radioactive waste treatment capacity with addition of new facility in Tennessee What Perma-Fix Environmental Services does: Perma-Fix Environmental Services Inc (NASDAQ:PESI) is a nuclear services company and a leading provider of nuclear and waste-management services.  Based in Atlanta, the company also offers engineering-consulting services to the industrial and commercial sectors. Perma-Fix’s core nuclear waste services business manages and treats radioactive and mixed waste for hospitals, research labs and institutions, and federal agencies, including the Department of Energy (DoE) and the Department of Defense (DoD). The division also serves the commercial nuclear industry as well.  Its nuclear services group handles the heavy work of environmental restoration, decontamination and decommissioning, while providing radiological protection, safety and industrial hygiene services. The company can also construct new buildings. How is it doing: For Perma-Fix, 2019 was a very good year.  The company closed full-year 2019 with a profit of $930,000 versus a loss of $2.4 million in the year-ago period. It doubled 4Q revenue to $22.1 million, an 88% year-over-year increase. Its services segment saw revenue jump by 341% year-over-year.   Another upbeat note heading into 2020 was news in late December, that the US Federal government had awarded the group's services segment, via a joint venture (JV) with Engineering/Remediation Resources Group Inc, a $15 million contract. The JV will support the Lawrence Berkeley National Laboratory in California through the DoE with remediation, construction, and waste-management services. The contract runs for 18 months and the contract could be expanded to nearly $20 million. In early 2020, the company has made it a priority to build-out its infrastructure to handle radioactive waste. In February, the company expanded its Low-Level Radioactive Waste (LLRW) processing and treatment capacity by adding the Perma-Fix Environmental Waste Operations Center (EWOC), an 8.7-acre facility in Oak Ridge, Tennessee.   The facility, which sits atop a former DoE site, is dedicated to supporting LLRW processing and disposition, including mechanical processing, to manage multiple waste streams from both government and commercial customers. Workers will prepare, package, and transport the LLRW to approved disposal facilities such as landfills and radiological waste repositories. Inflection points: Expects full operations at Waste Operations Center to begin in 2Q 2020 Seek US EPA certification for the Tennessee processing facility  What the boss says:  Perma-Fix CEO Mark Duff has told shareholders that the group is “realizing the benefits of our recently implemented strategic plan and business development initiatives." He added: “This is best illustrated by the fact we've been awarded over $65 million in new contracts since the beginning of 2019. We achieved this revenue growth despite the federal government's continuing resolutions, which temporarily reduced spending. Moreover, we have increased our sales pipeline and our Services Segment backlog."