Avalon Holdings Reports Second Quarter Results

Date: August 11, 2006

Source: Avalon Holdings Corporation

Avalon Holdings Corporation AWX announced financial results for the second quarter of 2006.

Net operating revenues in the second quarter of 2006 increased to $9.2 million compared with $8.7 million in the prior year's second quarter. The Company recorded income from continuing operations of $.1 million, or $.03 per share for the second quarter of 2006 compared with a loss from continuing operations of $.1 million or a loss of $.02 per share for the second quarter of 2005. Including the results from discontinued operations, the Company recorded net income of $.5 million, or $.13 per share in the second quarter of 2006 compared with a net loss of $.1 million, or a loss of $.02 per share in the second quarter of the prior year.

For the first six months of 2006, net operating revenues increased to $18.2 million compared with $16.2 million for the first six months of 2005. The Company recorded income from continuing operations of $.1 million, or $.03 per share for the first six months of 2006 compared with a loss from continuing operations of $33,000, or a loss of $.01 per share for the prior year period. Including the results from discontinued operations, the Company recorded net income of $.5 million, or $.13 per share for the first six months of 2006 compared with net income of $37,000, or $.01 per share for the first six months of 2005.

Avalon Holdings Corporation provides waste management services to industrial, commercial, municipal and governmental customers in selected northeastern and midwestern U.S. markets. Avalon Holdings Corporation also owns the Avalon Golf and Country Club, which operates two golf courses and related facilities.

More information: www.avalonholdings.com, www.awmsi.com.

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