1st-Quarter Profit Falls 68% at American Ecology

American Ecology Corp. in Agoura Hills reported a 68% drop in first-quarter profit despite a 13% increase in revenue.

The company, which operates hazardous-waste dumps and provides other waste-management services, said net income in the three months ended March 31 totaled $67,000, or 2 cents a share, down from $209,000, or 7 cents a share, a year earlier. Revenue rose to $14 million from $12.4 million.

American Ecology said the profit decline came despite a $700,000 after-tax gain in the latest quarter due to an accounting change. Earnings were hurt by higher costs and a decline in the amount of low-level radioactive wastes and chemical wastes handled by the company.