EnergySolutions profits double in second quarter

By Judy Fahys
The Salt Lake TribuneSalt Lake City-based EnergySolutions saw profits double in the second quarter of 2008.
    Net income was $12.6 million, or 14 cents per diluted share, for the quarter ending June 30, 2008. Year-ago net income was $6 million.
    Thanks largely to the acquisition in June 2007 of the British Reactor Sites Management Co., revenues at the nuclear energy service company nearly tripled to $460 million for the quarter. Same-period revenues for last year were $162 million, the company reported Monday.
    "In this, our second full quarter as a public company, I am very pleased with the performance of each of our business units and the progress each has made in executing our long-term strategic goals," said R. Steve Creamer, EnergySolutions' chief executive officer.
    Revenues in the company's federal services and international operations increased during the quarter. Meanwhile, revenues were down in the commercial services division and in logistics, where revenue declined primarily because of lower volumes of waste being disposed at the company's low-level radioactive and hazardous waste site in Tooele County.
    EnergySolutions trades under the symbol ES on the New York Stock Exchange.