AERT Reports Record Sales and Income 2Q02.Business Editors SPRINGDALE, Ark.--(BUSINESS WIRE)--July 26, 2002 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:AERTA AERTA Army Environmental User Requirements and Technology Assessments (US Army) ), a leader in wood composite technology, announced today that 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 for the quarter ended June 30, 2002, were $10.3 million, up $2 million or 24% from the $8.3 million in sales for the quarter ended June 30, 2001. Net income for the quarter increased to $413,391, compared to $69,766 for the same period a year ago, which is an increase of $343,625 or 493%. Positive cash flow available for debt service increased to $1.5 million for the quarter, up from $1.1 million for the same period a year ago. Net unaudited sales for the six months ended June 30, 2002, increased to $19.6 million, up $3.4 million or 21%, over the $16.2 million reported for the six months ended June 30, 2001. Net income for the period increased to $621,834, up from $38,614, a 1,510% increase from the same period in 2001. Cash flow available for debt service increased to $2.8 million for the six months ended June 30, 2002 compared to $2.0 million, up $800,000 or 40%, from the same period in 2001. Additional information will be forthcoming when the Company files its Form 10-Q Form 10-Q See 10-Q. for the quarter ended June 30, 2002, in the near future. Advanced Environmental Recycling Technologies Inc., "AERT AERT Advanced Environmental Recycling Technologies, Inc AERT Animal Emergency Response Team ," was established in 1989, and has developed, patented and commercialized several technologies which significantly advance the state-of-the-art recycling of plastic scrap and wood composite manufacturing processes. The Company's products are marketed under the trade names Weyerhaeuser ChoiceDek(R) decking components, MoistureShield(R) door and window components, MoistureShield(R) CornerLoc(TM) trim system. AERT's products are manufactured in 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. , and Springdale, Ark. Certain of the statements made in this press release concerning the Company's sales performance 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. 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. Potential risks and other factors that could cause or contribute to actual results differing materially from such forward-looking statements are 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 December 31, 2001. |
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