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APPLIANCE RECYCLING CENTERS OF AMERICA, INC. ANNOUNCES THIRD QUARTER EARNINGS

 APPLIANCE RECYCLING CENTERS OF AMERICA, INC.
 ANNOUNCES THIRD QUARTER EARNINGS
 MINNEAPOLIS, Nov. 20 /PRNewswire/ -- Appliance Recycling Centers of America, Inc. (NASDAQ: ARCI) today announced its financial results for the third quarter ended Sept. 30, 1991. Net revenues for the quarter were $2,788,000, up 171 percent from net revenues of $1,030,000 in the third quarter last year. Net income for the quarter was $359,000 or $0.12 per share, compared to $72,000 or $0.02 per share for the same period last year.
 For the nine months ended Sept. 30, 1991, ARCA's net revenues were $5,327,000, up 125 percent from net revenues of $2,364,000 for the same period last year. Net income for the nine months was $428,000 or $0.14 per share compared to $25,000 or $0.01 per share for the same period last year.
 "The company's success in bringing three new centers on line during the third quarter has enhanced ARCA's revenue base substantially," commented Jack Cameron, president of ARCA. "The public has become increasingly aware of the need for solutions to the depletion of the ozone layer, pollution, ground water supplies, and the conservation of natural resources. We believe this will result in the continued demand for our company's services."
 Appliance Recycling Centers of America, Inc. provides comprehensive appliance recycling services to major appliance generators. The focus of the company's business is the large-scale collection and processing of unwanted major household appliances in an environmentally sound manner.
 APPLIANCE RECYCLING CENTERS OF AMERICA, INC. & SUBSIDIARIES
 CONSOLIDATED STATEMENT OF EARNINGS
 (In thousands, except per-share data)
 Three months ended Nine months ended
 Sept. 30 Sept. 30
 1991 1990 1991 1990
 Net revenues $2,788 $1,030 $5,327 $2,364
 Cost of revenues 1,314 552 2,602 1,397
 Gross profit 1,474 478 2,725 967
 Selling, general and
 administrative expenses 820 363 1,924 881
 Operating income 654 115 801 86
 Interest expense (40) (13) (81) (31)
 Income (loss) before
 income taxes 614 102 720 55
 Provision for income taxes 255 30 292 30
 Net income (loss) 359 72 428 25
 Earnings (loss) per
 common share $0.12 $0.02 $0.14 $0.01
 Weighted average number
 of shares 3,088 3,123 3,116 2,859
 -0- 11/20/91
 /CONTACT: Edward R. Cameron of Appliance Recycling Centers of America, Inc., 612-331-1000/
 (ARCI) CO: Appliance Recycling Centers of America, Inc. ST: Minnesota IN: SU: ERN


AL -- MN016 -- 5587 11/20/91 16:46 EST
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Publication:PR Newswire
Date:Nov 20, 1991
Words:420
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