Applied Minerals, Inc. Reports Earnings Results for the Second Quarter Ended June 30, 2019
August 14, 2019 at 05:04 pm EDT
Share
Applied Minerals, Inc. announced earnings results for the second quarter ended June 30, 2019. For the second quarter, the company announced sales was USD 218,936 compared to USD 92,438 a year ago. Operating loss was USD 1.162 million compared to USD 1.345 million a year ago. Net loss was USD 1.692 million compared to USD 319,039 a year ago. Basic loss per share from continuing operations was USD 0.01 compared to Basic EPS - Continuing Operations of USD 0 a year ago. For the half year, sales was USD 339,463 compared to USD 138,085 a year ago. Operating loss was USD 2.113 million compared to USD 3.049 million a year ago. Net loss was USD 3.035 million compared to USD 12.395 million a year ago. Basic loss per share from continuing operations was USD 0.02 compared to USD 0.08 a year ago.
Applied Minerals, Inc. owns the Dragon Mine in central Utah. From the mine the Company extract, process or has processed by a third party, halloysite clay and iron oxide for sale to a range of end markets. The Company markets the minerals directly and through distributors. It is also engaged in research and development and frequently works collaboratively with customers, consultants, distributors; and a third-party processor to process and enhance its halloysite clay products to improve the performance of its customersâ existing and new products. Its halloysite clay, which the Company markets under the DRAGONITE trade name, is an aluminosilicate mineral with a hollow tubular shape. DRAGONITE can utilize halloysiteâs shape, high surface area, and reactivity to add significant functionality to a number of applications. The Companyâs iron oxide, which it markets under the AMIRON trade name, sales for use in cement, as well as an absorbent for hydrogen sulfide gas contained in natural gas.
APPLIED MINERALS, INC. 