ADA-ES ANNOUNCES FOURTH QUARTER AND YEAR-END RESULTS;

PROJECTS 30% INCREASE IN 2004 REVENUES



LITTLETON, CO - March 5, 2003 - ADA-ES, Inc. (OTCBB:ADES) today announced

financial results for the fourth quarter and year ended December 31, 2003.

See attached tables.



For the fourth quarter, total revenues were $1.5 million versus $1.8 million

in the fourth quarter of 2002.  While revenues rose in the Company's mercury

emission control segment and combustion aids segment, flue gas conditioning

revenues declined as expected due to a large non-recurring equipment sale in

the fourth quarter of 2002, as well as sales to a temporary chemicals

customer last year.  Income before a $93,000 tax benefit in the fourth

quarter of 2003 was $79,000 or $.02 per diluted share.  After the benefit,

net income was $172,000 or $.05 per diluted share versus $144,000 or $.04 per

diluted share in the final quarter of last year.  The fourth quarter

represented the Company's eighth consecutive quarter of profitability.



For fiscal year 2003, total revenues increased 3% to $5.9 million from $5.7

million in the prior year.  Income before the aforementioned tax benefit was

$316,000 or $.09 per diluted share.  After the benefit, net income was

$409,000 or $.12 per diluted share compared to $470,000 or $.14 per diluted

share last year.



Dr. Michael Durham, President of ADA-ES, stated, "We are pleased with the

revenue growth we achieved in our mercury emission control segment in the

quarter and year as a whole - 44% and 43%, respectively.  We expect this

segment, which generated 59% of total revenues in 2003, to continue to be our

largest revenue source due to our ongoing success with testing mercury

control technology at various power plants across the country."



Dr. Durham continued, "2003 was an exciting year in ADA-ES' development.  In

order to focus on the market potential related to pending mercury emission

regulations, we spun-off from Earth Sciences and began operating and trading

as a separate company.  Throughout the year, we took a number of steps to

enhance our position in the mercury emission control market including

acquiring the mercury measurement business of EMC, forming a

technology/marketing agreement with Dominion Ash and expanding our

relationship with Arch Coal through Arch's investment in the Company.

Additionally, in partnership with ALSTOM Environmental Control Systems, we

won a Department of Energy National Energy Technology Laboratory agreement to

perform longer-term sorbent-based mercury control technology testing for

coal-fired power plants, which, assuming continued government and industry

support, we expect to contribute $7.4 million in revenues to ADA-ES over the

Home        Intelligence        Services        Subscriptions        News        About Us

Contact Us       Terms of Use       Resend Documents       Shopping Cart

Copyright © 2008 The Consus Group LLC