Arca in red as prices, volumes decrease
Feb 28, 2013 | 12:16 PM
| Lisa Gordon
Tags
ferrous prices,
Appliance Recycling Centers of America,
Arca,
earnings report,
Edward Cameron,
Lisa Gordon
PITTSBURGH — Appliance Recycling Centers of America Inc. (Arca) is hopeful that a rebound in residential construction will result in the company’s return to profitability after falling into the red last year.
The Minneapolis-based appliance retailer and recycler posted a fourth-quarter net loss of $2.06 million, in contrast to net income of $3,000 in the same period a year earlier, on revenue that fell 5.1 percent to $26.56 million. It has not turned a profit since the fourth quarter of 2011. ....
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