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Riedel posts profit, but analysts cautious about future
Thanks to strong summer demand for its waste cleanup services, Riedel Environmental Technologies Inc. posted a profit in the third quarter after losses in the first two quarters of the year.
But analysts say it is too soon to judge how far into the black the company will go in the months ahead.
Instead, investment advisers are looking to 1991, when Riedel's expansion of its rubber-recycling and toxics-handling businesses should begin paying off. Add to that revenue from its Portland waste composting plant, and earnings could match or exceed 1988 levels.
"There's no doubt that the summer …