Hurricane-Related Activities - 500 Beiträge pro Seite

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PDG Environmental, Inc. Provides Update on Hurricane-Related Activities
Thursday November 10, 8:30 am ET
Storm Recovery Work Expected to Boost Third & Fourth Quarter Revenues by $10-12 Million


PITTSBURGH--(BUSINESS WIRE)--Nov. 10, 2005--PDG Environmental, Inc. (OTC BB: PDGE - News), a national specialty contractor, announced today that incremental third quarter revenues from hurricane-related activities will be in the $5-6 million range with similar levels of incremental revenue expected in the fourth quarter.
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Since mobilization in mid-September, the work that has been completed to date has been associated with emergency response and loss mitigation, including structural drying, mold remediation, asbestos removal and select demolition. Clients have included local governments, school districts, PDGE national customers and private industry. Reconstruction after emergency response and clean up will be conducted by our recently-acquired Flagship subsidiary. Although contract negotiations and start of reconstruction generally lags emergency-response activity by one to four months or more, our Flagship operation has already generated approximately $2.0 million in reconstruction backlog and is in active negotiations for a number of multi-million dollar reconstruction projects.

John Regan, Chairman and CEO of PDG Environmental, commented, "We all feel great compassion for the residents of New Orleans, the Gulf Coast and southern Florida. Many of our employees were directly affected by the hurricanes. We are committed to doing everything we can to get them and their neighbors back into their homes and businesses."

Regan added, "We are doing mold remediation, drying, asbestos removal, demolition, disaster restoration and general clean up of the affected areas. The recently-acquired Flagship operation has received numerous requests for proposal in the hurricane-affected areas and expects to receive a significant amount of work after the initial clean up is completed. While it is still early in the clean-up process, especially in the areas in southern Florida affected by Hurricane Wilma, PDG Environmental expects positive impact from hurricane-related projects over the next several quarters. At the same time, our non-hurricane operations throughout the Country remain on track."

PDG Environmental, Inc. is a national specialty contractor providing asbestos abatement, mold remediation, disaster response and reconstruction, demolition and related services to its commercial, industrial and governmental clients nationwide. Regional marketing and project operations are conducted through branch offices located in Pittsburgh, Philadelphia, New York, Charlotte, Ft. Lauderdale, Tampa, Pensacola, Houston, Dallas, Phoenix, Los Angeles, Bakersfield, Las Vegas, Portland and Seattle. For additional information on the company, please visit http://www.pdge.com and for more information on mold and its effect on indoor air quality, please visit http://www.epa.gov/iaq/molds/index.html.

Safe Harbor Statement under Private Securities Act of 1995: The statements contained in this release, which are not historical facts, may be deemed to contain forward-looking statements, including, but not limited to, deployment of new services, growth of customer base, and growth of service area, among other items. Actual results may differ materially from those anticipated in any forward-looking statement with regard to magnitude, timing or other factors. Deviation may result from risk and uncertainties, including, without limitation, the Company`s dependence on third parties, market conditions for the sale of services, availability of capital, operational risks on contracts, and other risks and uncertainties. The Company disclaims any obligation to update information contained in any forward-looking statement.

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PDG Environmental has nationwide offices.

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The Bulls say:


Customer Quality: Aside from government agencies and private institutions, PDGE touts several significant, public companies as clients. Growth, Valuation and Consistency: PDGE`s service expansions have presented numerous growth opportunities beginning to reveal themselves in the financials. Trailing 12 month revenues are $63.6M (+77 percent vs. 2004); net income $2.3M (+261 percent); and EPS 20c (+186 percent). Shareholders` equity = $9.5M (+93 percent); book value = 64c/share. Trailing P/E is a mere 5.15, not accounting for growth and a pending acquisition. PDGE reported working capital of $13.2M or 90c/share (vs a $15.2M marketcap and $1.03 stock price). PDGE has also reported more than $35M in backlog for the last seven quarters.