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ARCA REPORTS FIRST QUARTER RESULTS

 Three Months Ended
 3/31/93 3/31/92
 (in thousands, except per share data)
 Net revenue $2,566 $1,899
 Cost of revenue 2,020 1,082
 Gross profit 546 817
 Selling, general &
 administrative expenses 1,243 796
 Operating income (697) 21
 Interest income 12 19
 Interest expense (58) (29)
 Income before provision
 for income taxes (743) 11
 Provision for income taxes (314) 3
 Net income $(429) 8
 Earnings per share $(0.11) $0.00
 Weighted average number
 of shares 3,808,000 3,778,000
 MINNEAPOLIS, April 26 /PRNewswire/ -- Appliance Recycling Centers of America, Inc. (NASDAQ-NMS: ARCI) (ARCA) today reported net revenues of $2,566,000 for the first quarter of 1993 ended March 31, an increase of 35 percent from $1,899,000 in the year-earlier period. The company reported a net loss of $429,000 or $.11 per share, compared to net income of $8,000 or no per share earnings in the first quarter of 1992.
 Edward R. Cameron, ARCA's president and chief executive officer, attributed the first quarter loss to the inability of seasonally weaker revenues to offset significantly higher growth-related operating costs. He said the first quarter is the seasonally slowest period of the year for the appliance recycling industry. During this period, however, the company incurred the added expense of operating nine recycling centers, compared to six a year ago.
 Cameron said that the company's cost structure also reflects further investments in strengthening ARCA's operational infrastructure. He said continued investments in plant and equipment are needed to support projected growth later this year and in 1994.
 Cameron said the company expects to report lower revenues and earnings in the second quarter, compared to the same quarter last year, reflecting the decision of a major customer to scale back its successful recycling program due to budgetary constraints. However, he said the company's performance is currently expected to strengthen during the second half due to ongoing business and new opportunities including the pending fourth quarter opening of ARCA's new Los Angeles recycling center.
 ARCA provides a comprehensive range of environmentally sound recycling services for unwanted major household appliances. ARCA is traded on the NASDAQ National Market System under the symbol ARCI.
 -0- 4/26/93
 /CONTACT: Kent S. McCoy of Appliance Recycling Centers of America, 612-331-1000/
 (ARCI)


CO: Appliance Recycling Centers of America, Inc. ST: Minnesota IN: ENV SU: ERN

AL -- MN008 -- 0893 04/26/93 15:48 EDT
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Publication:PR Newswire
Date:Apr 26, 1993
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