Kaiser Group Holdings Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2012
September 16, 2012
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Kaiser Group Holdings Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2012. For the quarter, the company reported operating loss of $2,733,000 compared to $972,000 a year ago. Loss before income tax was $5,481,000 compared to $801,000 a year ago. Net loss was $5,481,000 or $4.15 loss per basic and diluted share compared to $801,000 or $0.57 loss per basic and diluted share a year ago.
For the six months, the company reported operating loss of $5,327,000 compared to $1,718,000 a year ago. Loss before income tax was $7,794,000 compared to $1,520,000 a year ago. Net loss was $7,794,000 or $5.90 loss per basic and diluted share compared to $1,520,000 or $1.08 loss per basic and diluted share a year ago. Net cash used in operating activities was $4,194,000 compared to $1,291,000 a year ago. Purchase of property and equipment was $83,000.
Kaiser Group Holdings, Inc. (Kaiser Group Holdings) is a holding company. The Company was formed for the purpose of owning all of the outstanding stock of Kaiser Group International, Inc. (Old Kaiser), which in turn owns the stock of its remaining subsidiaries. Kaiser Group International, Inc. owns the stock of subsidiaries, including ownership in Kaiser Aircraft Industries, Inc., and a stake in Kaiser-Hill Company, LLC. Kaiser Aircraft Industries, Inc. is a provider of aircraft maintenance and modification services primarily to government and military customers. Kaiser-Hill Company, LLC is engaged in serving as the general contractor performing closure activities at the United States Department of Energy's Rocky Flats site near Denver, Colorado. Kaiser-Hill operates under the close-out phase of the Closure Contract, resolving administrative issues and providing support to the department of energy (DOE) to achieve regulatory closure of the Rocky Flats site.