AERT - Earnings Release and Conference Call $9.25 Million Third Quarter Sales Yield $251,387 Net Income.Business Editors SPRINGDALE, Ark.--(BUSINESS WIRE)--Nov. 30, 2001 Advanced Environmental Recycling Technologies Inc. (Nasdaq:AERTA AERTA Army Environmental User Requirements and Technology Assessments (US Army) ), a leader in wood composite technology announced that net sales Net Sales The amount a seller receives from the buyer after costs associated with the sale are deducted. Notes: This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight for the quarter ended Sept. 30, 2001, exceeded $9.2 million, up $1.7 million or 23% over the $7.5 million reported for the quarter ended Sept. 30, 2000. 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. increased to $619,681 from a loss of $119,089, a $738,770 improvement over the third quarter of 2000. After interest expense and preferred stock Stock shares that have preferential rights to dividends or to amounts distributable on liquidation, or to both, ahead of common shareholders. Preferred stock is given preference over common stock. Holders of preferred stock receive dividends at a fixed annual rate. premiums, net income increased to $251,387, up from a loss of $427,926 for the same period last year. For the nine months ended Sept. 30, 2001, unaudited net sales increased to $25.29 million, up from $21.35 million for the comparable period in 2000. Operating income for the nine months ended Sept. 30, 2001, increased to $1.26 million over an operating loss operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. of $64,981 and net income for the nine months of 2001, increased to $290,001, from a loss of $908,830 for the same period last year. "The Company's third quarter results are noteworthy, especially in light of the Texas facility being down for major repair work during August, thereby producing a loss of $209,190 at the plant for the quarter," stated AERT AERT Advanced Environmental Recycling Technologies, Inc AERT Animal Emergency Response Team Chairman Joe G. Brooks. "Our overall improvement reflects the quality of our AERT composite products that are being increasingly recognized in the marketplace, the improved efficiencies and cost reduction being created," stated Brooks. "The Texas facility will be further streamlined during the fourth quarter as we strive to offset the significantly higher raw material and operating costs operating costs npl → gastos mpl operacionales at that location." The Company will be holding its conference call to discuss the third quarter on Monday, Dec. 3, 2001, at 1:00 ET and can be heard on the www.streetevents.com or www.companyboardroom.com Web sites. Advanced Environmental Recycling Technologies Inc. manufactures a growing line of low-maintenance composite building products from recycled polyethylene plastic and waste wood fiber. The Company's products are marketed under the trade names Weyerhaeuser ChoiceDek(R) decking components, MoistureShield(R) door and window components, MoistureShield(R) trim system, and LifeCycle(R) privacy fencing Privacy fencing is the use of fences to protect privacy, usually by preventing outsiders from seeing onto a property. There are cultural differences with regards to the use of fences around properties. . AERT currently operates a manufacturing facility in Texas and a recycling and manufacturing facility in Arkansas. The statements in this press release as well as in the upcoming conference call regarding the Company's sales performance and operating results constitute "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These statements are subject to risks and uncertainties that could cause the Company's actual operating results to differ materially. Such risks and uncertainties include the extent of market acceptance of the Company's products, the sensitivity of the Company's business to general economic conditions, and the highly competitive markets in which the Company operates. You should not place undue reliance on forward-looking statements, since such statements speak only as of the date of the making of such statements. Additional information concerning these risks and uncertainties is contained in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended Dec. 31, 2000. |
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