AERT Reports Record Sales and Income for the Third Quarter of 2002.Business Editors SPRINGDALE, Ark.--(BUSINESS WIRE)--Nov. 14, 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 Sept. 30, 2002 were $11,045,046, up $1,729,377 or 19% from the $9,315,669 in sales for the quarter ended Sept. 30, 2001. Net income for the quarter increased to $870,495, compared to $251,387 for the same period a year ago, which is an increase of $619,108 or 246%. Positive cash flow available for debt service increased to $1.9 million for the quarter, up from $1.3 million for the same period a year ago. Net unaudited sales for the nine months ended Sept. 30, 2002, increased to $30,616,774, up $5,149,220, or 20%, over the $25,467,554 reported for the nine months ended Sept. 30, 2001. Net income for the period increased to $1,492,329, up from $290,001, a 415% increase from the same period in 2001. Cash flow available for debt service increased to $4.7 million for the nine months ended Sept. 30, 2002 compared to $3.4 million, up $1.3 million or 38%, from the same period in 2001. Additional information is available in the Company's third quarter 10-Q filed with the SEC. Also, AERT AERT Advanced Environmental Recycling Technologies, Inc AERT Animal Emergency Response Team will be holding its quarterly conference call to discuss its third quarter results on Monday, Nov. 18, 2002, at 3:00 p.m. Central Time. Individual investors can listen to the call through CCBN's individual investor center by signing the guest book on the Company Board Room site (www.companyboardroom.com) or by visiting any of the investor sites in CCBN's Individual Investor Network. Institutional investors Institutional Investor A non-bank person or organization that trades securities in large enough share quantities or dollar amounts that they qualify for preferential treatment and lower commissions. can access the call via CCBN's password-protected event management site, StreetEvents (www.streetevents.com). Advanced Environmental Recycling Technologies Inc. ("AERT"), was established in 1989, and has developed, patented and commercialized several technologies which significantly advance the state-of-the-art recycling recycling, the process of recovering and reusing waste products—from household use, manufacturing, agriculture, and business—and thereby reducing their burden on the environment. 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, and 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 and in its upcoming conference call concerning the Company's sales performance and operating results, its anticipated financial condition and its business strategies 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 Dec. 31, 2001. |
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