AERT Reports Positive Cash Flow From Operations and Net Income for Second Quarter.SPRINGDALE, Ark.--(BUSINESS WIRE)--Aug. 18, 1997--AERT 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) , AERTZ) reported unaudited 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 of $1.947 million for the quarter ended June 30, 1997. The company reported a net profit of $629,990 for the quarter ended June 30, 1997, compared to a loss of $328,210 for the quarter ended June 30, 1996. This yields a profit of $.03 per share outstanding for the quarter or $.02 per share on a fully diluted basis, vs. a ($.03) per share loss for the comparable quarter in 1996. The company recorded 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 $221,626 for the quarter which was offset by a onetime extraordinary gain of $863,000 resulting from settlement of an ongoing fire insurance claim. 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 President, Joe G. Brooks, the company demonstrated substantial operations and manufacturing improvement during the quarter, even with two poor weeks of operations caused by bad electrical storms electrical storm Cardiology A cardiac event defined as multiple recurrent episodes of ventricular fibrillation, or hemodynamically destabilizing ventricular tachycardia, with a very poor prognosis; ES is most common in older men with CAD, often in a background of and a severe flood 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. This caused a facility shutdown and evacuation and resulted in substantial lost production and missed sales for the quarter. "Our associates worked hard and under adversity, produced positive cash flow from operations Cash flow from operations A firm's net cash inflow resulting directly from its regular operations (disregarding extraordinary items such as the sale of fixed assets or transaction costs associated with issuing securities), calculated as the sum of net income plus noncash expenses for the quarter. With our growing customer base and large order backlog, our company is working hard to continue to improve our financial performance during subsequent quarters." -0-
Advanced Environmental Recycling Technologies Inc.
Statements of Operations (unaudited)
Three Months Ended Six Months Ended
6/30/97 6/30/96 6/30/97 6/30/96
Sales $ 1,947,307 $ 2,057,337 $ 3,695,109 $ 3,659,116
Cost of Goods Sold 1,762,641 1,943,021 3,756,187 3,689,251
Gross Margin 184,666 114,316 (61,078) (30,135)
Selling and Adminis-
trative Costs 406,292 406,118 744,430 783,489
Operating Income
(Loss) (221,626) (291,802) (805,508) (813,624)
Other Income (Expense)
Other Income - 20,291 - 20,399
Interest Expense (11,716) (56,699) (47,272) (117,438)
Net Loss Before Extra-
ordinary Item $ (233,342) $ (328,210) $ (852,780) $ (910,663)
Extraordinary Gain 863,332 - 863,332 -
Net Income (Loss) $ 629,990 $ (328,210) $ 10,550 $ (910,663)
Net loss per share of
common stock before
extraordinary item ($.01) ($.02) ($.04) ($.05)
Extraordinary gain per
share of common
stock $.04 - $.04 -
Net income per share
of common stock $.03 ($.02) - ($.05)
Weighted average number
of common shares
outstanding 20,801,132 18,225,348 20,768,266 18,225,348
CONTACT: AERT, Springdale Joe Brooks, 915/446-3430 |
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