Applied Minerals, Inc. Reports Earnings Results for the Third Quarter Ended September 30, 2019
November 14, 2019 at 05:22 pm
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Applied Minerals, Inc. announced earnings results for the third quarter ended September 30, 2019. For the third quarter, the company announced sales was USD 45,102 compared to USD 4.682 million a year ago. Operating loss was USD 925,888 compared to operating Income of USD 3.133 million a year ago. Net loss was USD 1.346 million compared to net income of USD 5.536 million a year ago. Basic loss per share from continuing operations was USD 0.01 compared to basic earnings per share from continuing operations of USD 0.03 a year ago. For the nine months, sales was USD 384,565 compared to USD 4.820 million a year ago. Operating loss was USD 3.039 million compared to operating Income of USD 83,689 a year ago. Net loss was USD 4.381 million compared to USD 6.858 million a year ago. Basic loss per share from continuing operations was USD 0.02 compared to USD 0.04 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. 
