AERT's announces third quarter results of operations.SPRINGDALE Springdale, city (1990 pop. 29,941), Benton and Washington counties, NW Ark.; inc. 1878. It is a poultry-processing center, and there is vegetable canning, printing, and the manufacture of air conditioning ducts, metal and paper products, machinery, transportation , Ark.--(BUSINESS WIRE)--Nov. 10, 1995--Advanced Environmental Recycling Technologies Recycling technology Methods for reducing solid waste by reusing discarded materials to make new products. The three integral phases of recycling are the collection of recyclable materials, manufacture or reprocessing of these materials into new products, and , Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :AERTA AERTA Army Environmental User Requirements and Technology Assessments (US Army) ) announced today that the Company's Composites Unit recorded its first full quarter of profit; however, composite gains were offset by plastic losses, resulting in a loss of $495,236 or $.03 per share for the third quarter ended Sept. 30, 1995. Total sales for the 3rd quarter were $1,693,444, representing a 72% increase over sales of $985,466 in the 3rd quarter of 1994. The Company's Composites Unit set a sales record of $1,612,106 in the 3rd quarter. This 84% sales increase over the comparable period ended Sept. 30, 1994 yielded a net profit of $107,567 for the AERT AERT Advanced Environmental Recycling Technologies, Inc AERT Animal Emergency Response Team Composite Unit. This compares to sales of $877,869, or a net loss of $192,545, for the comparable quarter in 1994. However composite gains were offset by losses in the Plastics Unit. Outside recycled plastic sales decreased 80% to $81,338, yielding a net loss of $404,236 for the Plastics Unit during the 3rd quarter. This compared with $108,546 in sales for the comparable quarter in 1994 and was down from $397,699 in sales during the 2nd quarter 1995. The net loss for the quarter of $495,236 or $.03 per share was down from $666,138 or $.04 per share for the third quarter of 1994. Year-to-date Year-to-date (YTD) The period beginning at the start of the calendar year up to the current date. sales increased 56% to $4,260,418 through the 3rd quarter of 1995, up from $2,725,016 for the comparable period in 1994. The year-to-date loss through Sept. 30, 1995 was $1,646,918 or $.11 per share. This compares to a loss before extraordinary gain of $2,411,212 or $.18 per share for the first nine months of 1994 and a net loss for that period of $1,531,839 or $.11 per share. Of the total sales of $1,693,444 for the quarter ended Sept. 30, 1995, 95% or $1,612,106 were from the Composites Unit. Of such composite sales, 66% were in the door and window component market, 11% were to the industrial flooring market, and 23% were to the residential decking market. This compares to composite sales of $997,965 or 72 percent of total sales during the second quarter of 1995. All composites categories increased in sales during the 3rd quarter. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Joe G. Brooks Brooks , Gwendolyn Elizabeth 1917-2000. American poet known for her verse detailing the dreams and struggles of African Americans. An early volume of poems, Annie Allen (1949), was awarded a Pulitzer Prize. Noun 1. , AERT's President: "Gross margins at our Composites Unit have showed steady improvement over the past four months, as increased efficiencies have been obtained. Our associates are continuing to work hard in this area and the operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. and net profit generated this past quarter by that unit are showing that their efforts are yielding results. It is unfortunate that we experienced a significant loss in the Plastics Unit, due primarily to loss of sales. However, our focus continues to be on our composites business. Sales growth is just beginning in our residential decking products where initial test markets have been successful and reorder re·or·der v. re·or·dered, re·or·der·ing, re·or·ders v.tr. 1. To order (the same goods) again. 2. To straighten out or put in order again. 3. To rearrange. v. patterns have met the Company's expectations. However, our decking sales accounted for only 23% or $375,058 during the 3rd quarter, as we have been conservative in initiating this product. As increased distribution into the target markets is now underway, we expect success from this product category in the future through our Weyerhaeuser This article is about the company. For the village by this name, see Weyerhaeuser, Wisconsin. Weyerhaeuser is one of the largest pulp and paper companies in the world; the world's largest private owner of softwood timberland; and the second largest owner distribution agreement. Accordingly, composite sales are expected to remain strong and to increase over the upcoming year. "To accommodate composites growth, the Company will require increased amounts of recycled plastics and our Plastics Unit will be shifting towards internal supply requirements. This will allow us to streamline overhead and better deploy assets. The Company is currently working to further improve efficiencies at both of its facilities and is preparing to increase composite extrusion capacity. Initial site evaluations have also commenced as the Company is looking at potential locations for additional composite manufacturing facilities and additional sources of wood fiber." CONTACT: Advanced Environmental Recycling Technologies, Springdale Joe G. Brooks, 915/446-3430 |
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