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November 11 , 2021 PermaFixⓇ environmental services A Nuclear Services and Waste Management Company Perma - Fix Reports Financial Results and Provides Business Update for the Third Quarter of 2021 Treatment Segment revenue increases and Services Segment adds approximately $ 50 million of new project backlog ATLANTA , Nov. 11 , 2021 ( GLOBE NEWSWIRE ) -- Perma - Fix Environmental Services , Inc. ( NASDAQ : PESI ) ( the “ Company ” ) today announced financial results and provided a business update for the third quarter ended September 30 , 2021 . Mark Duff , President and CEO of the Company , commented , " We have started to see an improvement in the business following the pandemic - related decline . Specifically , our Treatment Segment revenues have begun to increase , which has continued to build heading into the fourth quarter . Importantly , we hope to capitalize on the pent - up demand as the industry returns to normal . Similarly , our Services Segment was impacted by a hiatus in new contract awards due to the pandemic , as reflected in our third quarter results . However , the government has begun issuing these awards , and we're starting to see the positive impact . I'm pleased to report we have already won a number of service contracts , adding approximately $ 50 million of project backlog since the start of the third quarter , which we believe should have a positive impact on our results beginning in the fourth quarter and into 2022. We also secured numerous Indefinite Delivery / Indefinite Quantity ( IDIQ ) or multi- award task order contracts ( MATOCs ) , which limit competition and provide an opportunity for quick and low - cost proposal development . In addition , we have continued to define and position for new procurement and market expansion opportunities with the US Navy , the US Department of Defense ( DOD ) and the US Department of Energy ( DOE ) . These opportunities include work scope directly within our core competencies that will support innovative solutions and the potential for increased revenue within both sectors . " " We continue to maintain a solid balance sheet , with cash on hand of more than $ 7.2 million as of September 30 , 2021. As a result , we believe that we are capitalized to execute on our business strategy . We feel our recent funding will allow us to accelerate facility upgrades to support potential new revenue streams from Hanford and other government sites that could be a benefit to our Treatment Segment . " COVID - 19 The Company continues to proactively update its ongoing business operations and safety plans to mitigate any potential impact of COVID - 19 . 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 estimated with any degree of certainty .