Avalon Holdings loses $1.6 million

HOWLAND -- The parent company of Avalon Lakes Golf Course and other ventures lost $1.6 million in the third quarter.
Avalon Holdings Corp. took an accounting charge of $1.9 million because of losses related to a customer that is having financial trouble.
In the same quarter of last year, the Howland-based company earned $164,000.
Net operating revenues last quarter were $19.1 million, compared with $21.4 million in the same quarter last year.
For the first nine months of this year, the company had net operating revenues of $51.1 million, compared with $54.1 million in the same period last year.
It lost $4.1 million in the first nine months of this year, compared with $1.3 million in the same period last year.
Besides the golf course, Avalon Holdings operates Dart Trucking of Canfield and three companies involved with environmental services and landfill management.