Avalon Holdings Reports 2Q Net Loss of $100,000

WARREN, Ohio -- Avalon Holdings Corp., headquartered in Howland Township, Wednesday reported a second-quarter net loss of $100,000, or three cents per share. This compares with net income of $500,000, or 12 cents per share, for the same quarter a year ago.

Net operating revenues were $13 million compared with $15.7 million for the quarter ended June 30, 2013.

For the first half of 2014, net operating revenues were  $23.0 million compared with $30.4 million the same period of 2013.  The company recorded a net loss of $800,000, or 21 cents per share, for the first six months compared with net income of $300,000, or eight cents per share, for the first six months of 2013.

Avalon Holdings Corp. provides waste management services to industrial, commercial, municipal and governmental customers in selected markets in the Northeast and Midwest and owns the Avalon Golf and Country Club, which operates golf courses and other country clubs.

The company announced two weeks ago that it is buying the Magnuson Grand Hotel in Warren, formerly the Avalon Inn, and converting it into a resort spa under the Avalon nameplate.

Published by The Business Journal, Youngstown, Ohio.
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