AERT Reports 19% Net Sales Increase; Sets First Quarter Sales Record at $13.2 Million.Business Editors SPRINGDALE, Ark.--(BUSINESS WIRE)--May 14, 2004 Advanced Environmental Recycling Technologies Inc. (Nasdaq:AERTA AERTA Army Environmental User Requirements and Technology Assessments (US Army) ), a leader in plastic recycling Plastic recycling is the process of recovering scrap or waste plastics and reprocessing the material into useful products, sometimes completely different from their original state. and wood composite technology, today announced financial results for the first quarter ended March 31, 2004. 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 first quarter ended March 31, 2004 were $13.2 million, which represented an increase of 19% over the $11.1 million reported for the first quarter of 2003. Net income after extraordinary gain for the quarter ended March 31, 2004 was $574,264, as compared to $108,233 for the quarter ended March 31, 2003, a $466,031 increase. The Company reported an extraordinary gain of $1.0 million during the quarter due to ongoing reconstruction at the Company's Junction, Texas Junction is a city in Kimble County, Texas (USA). The population was 2,618 at the 2000 census. It is the county seat of Kimble CountyGR6. Geography Junction is located at (30.489772, -99. facility; excluding the one time gain, the net loss would have been $463,313 for the quarter. "The Company has recently completed significant capital expansions and upgrades at multiple facilities to further increase our internal plastic recycling capacity, lower production costs, and attain additional efficiencies of scale," stated AERT AERT Advanced Environmental Recycling Technologies, Inc AERT Animal Emergency Response Team Chairman, Joe G. Brooks. "Significant additional capacities and related automation and improvements are now operational." Additional information will be forthcoming. Note: The Company has scheduled a conference call to discuss quarterly results for 3:00 p.m. ET on Tuesday, May 18, 2004. A live webcast of the conference call will be available to all investors at the AERT Web site at www.aertinc.com. For those who cannot listen to the live broadcast, an audio replay of the call will also be available on the Company's Web site. About AERT: The Company operates four manufacturing facilities in Springdale, Ark., Lowell, Ark., Junction, Texas, and Alexandria, Louisiana Alexandria is a city in Louisiana and the parish seat of Rapides Parish. [1] [2] It lies on the south bank of the Red River in almost the exact geographic center of the state. . AERT converts reclaimed plastic and wood fiber waste into Weyerhaeuser ChoiceDek(R) outdoor decking systems, MoistureShield(R) door and window components, and MoistureShield(R) CornerLoc(TM) exterior trim and fascia fascia (făsh`ēə), fibrous tissue network located between the skin and the underlying structure of muscle and bone. Fascia is composed of two layers, a superficial layer and a deep layer. components. AERT products are sold across North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. . ChoiceDek(R) Premium decking is marketed exclusively through Lowe's Home Improvement Warehouses throughout the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . The statements in this press release and upcoming conference call in regards to the Company's expected sales performance and operating results, its anticipated financial condition and its business strategy constitute "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. 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. Additional information concerning these risks and uncertainties is contained in our filings with the Securities and Exchange Commission in Form 10-KA for the year ended December 31, 2003, filed April 29, 2004. |
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