Search Copying and distributing are prohibited without permission of the publisher
Email a friend
  • To include more than one recipient, please separate each email address with a semi-colon ';', to a maximum of 5

  • By submitting this article to a friend we reserve the right to contact them regarding AMM subscriptions. Please ensure you have their consent before giving us their details.

Recycling segment bolsters Arca’s net income

Keywords: Tags  Appliance Recycling Centers Of America, Arca, Edward R. Cameron, scrap prices, earnings report, Lisa Gordon

PITTSBURGH — Appliance Recycling Centers of America Inc.’s (Arca’s) third-quarter earnings received a boost from improved margins and a reduction in operating expenses.

The Minneapolis-based company posted net income of more than $1.13 million for the three months ended Sept. 28 in contrast to a net loss of $1.08 million in the same period last year on revenue that increased 16.7 percent to nearly $33.54 million. It was the third consecutive profitable quarter for the recycler.

"We’re pleased with our third-quarter results, especially considering the significant operational and financial challenges we faced the past year," president and chief executive officer Edward R. Cameron said.

The ability to purchase obsolete appliances at favorable prices increased the recycling segment’s operating earnings, executives said during the company’s third-quarter conference call.

Arca’s recycling segment recorded revenue of $11.82 million in the quarter, up 68.3 percent from $7.03 million a year earlier, with the increase in recycling volumes helping to offset a 16-percent reduction in scrap metal prices.

Revenue from the company’s by-products segment totaled $4.7 million in the third quarter, up 6.4 percent from $4.42 million a year ago.

Have your say
  • All comments are subject to editorial review.
    All fields are compulsory.

Latest Pricing Trends