Appliance Recycling Centers of America Inc.s
(Arcas) third-quarter earnings received a boost from
improved margins and a reduction in operating expenses.
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.
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.
The ability to
purchase obsolete appliances at favorable prices increased the
recycling segments operating earnings, executives said
during the companys third-quarter conference call.
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
companys by-products segment totaled $4.7 million in the
third quarter, up 6.4 percent from $4.42 million a year