by Lance Turner
Posted 5/14/2013 10:31 am
Updated 1 year ago
Advanced Environmental Recycling Technologies Inc. of Springdale said Tuesday that first-quarter net income reached $600,000, up from a net loss of $300,000 in the same quarter last year.
The company, plastics recycler that makes green building products, said quarterly sales were $18.7 million, down $3 million from the same quarter last year. The company attributed the sales decline to several factors, including "prior success of our winter buy program, prolonged winter weather conditions in most of the U.S., and lower than anticipated inventory build at some key distributors."
Operating income reached $1.7 million, up $1 million from the same quarter last year.
"We are pleased with manufacturing efficiencies realized and will continue to focus on investing in efficiency improvements and revenue generation projects and activities," AERT President Tim Morrison said in a news release. "While year-over-year first quarter sales were down we built finished goods inventory in anticipation of future demand."