AERT Narrows Loss To $2 Million
by March 15, 2013 8:39 pm 113 views
Springdale-based Advanced Environmental Recycling Technologies, Inc. announced improved sales and a shrinking loss for the last quarter and full year 2012.
AERT said sales in the fourth quarter were $2.7 million higher to $11.5 million. For the year, sales climbed $15.3 million higher to $74.6 million.
The company reported a yearly net loss of $2 million in 2012 compared to an $8 million net loss in 2011.
“We are pleased with our continued sales growth, particularly our international growth,” said Tim Morrison, President of AERT. “Our team’s ongoing focus on bringing new products to market, such as new colors and a new line of handrail components to Lowe’s is very exciting.”
“Our new term loan and revolver with AloStar Bank of Commerce, together with the HIG recapitalization, puts AERT on a firm foundation and well positioned for growth as housing and remodeling regain momentum,” said Joe G. Brooks, CEO of AERT.
Two years ago, the Springdale-based plastic recycler and manufacturer of green building products reworked a credit deal.