AERT Turns First Quarter Profit
by May 14, 2013 6:22 am 76 views
Advanced Environmental Recycling Technologies, Inc. said sales shrunk, but it squeezed a profitable quarter out of the first three months of the year.
The Springdale-based plastics recycler and manufacturer posted sales for the quarter ended March 31, 2013 of $18.7 million, roughly $3 million less than the same period a year ago. Net income rose to $600,000, a reversal from a $300,000 loss one year ago.
AERT cited “prolonged winter weather conditions in most of the U.S.” for the sales decline.
“We are pleased with manufacturing efficiencies realized and will continue to focus on investing in efficiency improvements and revenue generation projects and activities. While year-over-year first quarter sales were down we built finished goods inventory in anticipation of future demand,” said AERT President Tim Morrison.
The company will host an earnings call on Tuesday at 10 am to discuss results.