AERT -- $7.8 Million 1Q01 Net Sales Generates $258,583 Operating Income.Business Editors & Environmental Writers SPRINGDALE, Ark.--(BUSINESS WIRE)--May 15, 2001 Advanced Environmental Recycling Technologies Inc. (Nasdaq:AERTA AERTA Army Environmental User Requirements and Technology Assessments (US Army) ), a leader in wood composite 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 March 31, 2001, increased 25% to $7,814,036 up from $6,269,244 for the quarter ended March 31, 2000. Gross margin increased 94% to $2,000,356 for the period ended March 31, 2001, up from $1,032,606 for the prior period. 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 a positive $258,583 for the period ended March 31, 2001, up from a negative $140,601 for the prior period, resulting in a $399,184 improvement. Income, before accrued dividends, increased to a positive $41,348 for the quarter, up from a negative $241,937 for the same period a year ago. Accrued dividends on 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. were $72,500 for the quarter, which resulted in a net loss of $31,152, a $283,059 or 90% improvement over the prior period loss of $314,211. 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. AERT AERT Advanced Environmental Recycling Technologies, Inc AERT Animal Emergency Response Team chairman, Joe G. Brooks, "The first quarter of 2001 yielded substantial operating and cost improvements resulting in positive operating income of $258,583 for the company. Cash flow available for debt service increased to $925,000 for the quarter, up from $357,000 for the comparable period a year ago," stated Brooks. "Many operations and sales improvements were underway and nearing completion during the first quarter which are expected to come on-line and yield further improvements during subsequent periods," stated Brooks. "We are pleased that the hard work and dedication of our AERT associates are now starting to show positive results for our shareholders." An earnings conference call will be held Wednesday, May 16, 2001, 2:00 P.M. ET and webcast live over the Internet at www.StreetFusion.com with an on-demand audio reply until July 1, 2001. Certain of the statements during the conference call by Joe G. Brooks will be considered forward-looking statements within the meaning of the Securities Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Reform Act of 1995. Advanced Environmental Recycling Technologies Inc. manufactures a growing line of composite building materials Building materials used in the construction industry to create . These categories of materials and products are used by and construction project managers to specify the materials and methods used for . made from recycled polyethylene plastic and waste wood fiber and are marketed under the trade names MoistureShield(R) and ChoiceDek(R) for the North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. homebuilding market. AERT currently operates a manufacturing facility in Texas and a recycling and manufacturing facility in Arkansas. Certain of the statements made in this press release by Joe G. Brooks are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Including but not limited to plans for operation and sales improvements, these and other such statements involve certain risk and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Potential risks and other factors that could cause or contribute to actual results differing materially from such forward-looking statements are discussed in greater detail in the Company's Securities Commission Filings. |
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