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  • (HEK, FUEL, CLNO, EMKR, PMFG, CRWE) Stock to Watch by CRWEFinance.com 0 comments
    Aug 10, 2011 11:28 AM | about stocks: NES

     

     

     

    Heckmann Corporation (NYSE:HEK) is a services-based company focused on total water solutions for shale or "unconventional" oil and gas exploration. The water solutions for energy development segment from Heckmann is called Heckman Water Resources, or HWR, and includes water disposal, trucking, fluids handling, treatment and pipeline transport facilities, and water infrastructure services for oil and gas exploration and production companies. Through these operations, HWR offers an integrated and efficient full service water program for hydraulic fracturing operations.

     

    Heckmann Corporation, a water solutions company focused on water issues, in particular, as water relates to oil and natural gas exploration and production, yesterday announced financial results for the second quarter ended June 30, 2011. Revenues for the second quarter ended June 30, 2011 totaled $46.9 million, compared with $11.6 million for the same year-ago period, a 300% increase. Net income for the period improved to $0.2 million, or break even on a per share basis, from a net loss of $12.6 million, or $(0.12) per share for the second quarter of 2010. Adjusted net income for the second quarter of 2011 was $2.0 million, or $0.02 per share. Adjusted EBITDA for the quarter ended June 30, 2011 was $10.0 million, compared with adjusted EBITDA of $1.0 million for the same year-ago period.

    Heckmann Corporation also yesterday announced that it is negotiating to sell China Water & Drinks, Inc., which forms Heckmann's bottled water business segment. Accordingly, in the third quarter of 2011, Heckmann will classify China Water & Drinks as a discontinued operation and will reclassify its comparable period results to reflect this change.

    Revenues for the second quarter ended June 30, 2011 totaled $46.9 million, compared with $11.6 million for the same year-ago period. Net income for the second quarter of 2011 was $0.2 million, or break even on a per share basis, compared with net loss of $12.6 million, or ($0.12) per share, for the second quarter of 2010. Adjusted net income for the second quarter of 2011 was $2.0 million, or $0.02 on an adjusted per share basis, based on 113.5 million basic weighted shares outstanding.

    For more information about Heckmann, please visit: www.heckmanncorp.com
    (Read more at: http://crwefinance.com/?p=19966)

    Themes: HEK, FUEL, CLNO, EMKR, PMFG, CRWE Stocks: NES
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