Posted 11/15/2010 09:21 am
Updated 1 year ago
Advanced Environmental Recycling Technologies Inc. of Springdale on Monday announced a narrower third-quarter operating loss and a 15 percent revenue decline, in what its CEO called "a tough quarter."
The company, which makes and sells composite decking products, reported a $700,000 operating loss, which is less than the $3.1 million operating loss it reported during the same quarter last year. Sales dropped to $16.2 million from $19.1 million.
The company attributed the revenue drop to "reduced economic activity in the remodeling sector" and inventory reduction by its products' distributors.
"Although economic activity slowed substantially in our sector for the third quarter, AERT has taken this opportunity to retool and rework our extrusion facilities as the company prepares to launch several new exciting products in 2011 at the International Builders Show," CEO Joe Brooks said in a news release.
"The company also continues to expand its MoistureShield distribution network to work to position increase in market share in 2011. The AERT Green Age Plastic Recycling and Reclamation program is also currently being expanded to finish capacity additions to initiate processing and sales of recycled plastics."
"This was a tough quarter but we're proud of the hard work of our associates and the support of all parties involved to improve and move AERT forward," Brooks said.