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August 11 , 2021 PermaFixⓇ environmental services A Nuclear Services and Waste Management Company Perma - Fix Reports Financial Results and Provides Business Update for the Second Quarter of 2021 -- ATLANTA , Aug. 11 , 2021 ( GLOBE NEWSWIRE ) Perma - Fix Environmental Services , Inc. ( NASDAQ : PESI ) ( the “ Company ” ) today announced financial results and provided a business update for the second quarter ended June 30 , 2021 . Mark Duff , President and CEO of the Company , commented , " As anticipated , revenues in the second quarter were primarily impacted by the ongoing effects of the COVID - 19 pandemic , however we have begun to see activity pick up in third quarter and expect an improved second half of 2021. Despite the challenging environment , we reported net income of $ 3.0 million and maintained over $ 7 million of cash on the balance sheet . We experienced weakness in our Services Segment due to delays throughout the industry in evaluating bids and awarding procurements , also primarily due to the pandemic . Nevertheless , as we look at our bidding pipeline we are encouraged as these bids are collectively valued in the hundreds of millions of dollars . In fact , as previously disclosed last month , we were awarded a new service contract for the Tritium Systems Demolition and Disposal project , which is expected to be completed over the next 18 months . Revenue for the Treatment Segment remained relatively flat , and we are beginning to realize increases in waste treatment activity both in bidding opportunities , receipts and plant production , which we believe illustrates the improving nature of the market . We have also been focusing on advancing our technology offering and were pleased to announce that we have completed design and begun fabrication and construction of our new Therma - Fix Gen³ , a third generation vacuum thermal desorption system . The Therma - Fix Gen³ unit offers a treatment solution for problematic waste streams while providing increased efficiency and productivity . With our initial sales launch in June 2021 , and even before the unit has commenced operations , we have already secured an existing , on - site waste treatment inventory and sales pipeline , which we believe underscores the demand for this capability in both commercial and government sectors . This is just another example how we continue to develop new technologies to treat some of the world's most challenging waste streams . Overall , while we are disappointed in our Q2 performance , we believe Perma - Fix is well positioned for growth and I am proud of the business development efforts our team has initiated and completed , which highlights our ability to adapt to the market . " COVID - 19 Similar to most of the US , Perma - Fix has relaxed the COVID - 19 - related precautions associated with ongoing operations as more people have become vaccinated , including the Company's employees . However , as the situations surrounding COVID - 19 remain fluid , the full impact and extent of the pandemic on the Company's financial results cannot be