Appliance Recycling Centers of America Reports Declines in Revenues

Appliance Recycling Centers of America, Inc., a Minneapolis-based provider of appliance recycling and retailing services, has reported declines in operating results for the second quarter ended July 4, 2015.

Revenues from April to June 2015 were 30.2 million dollar, down 8.1 percent compared with the same period in 2014, as a result of decreased recycling division program sales and lower byproduct revenues. The net income amounted to 600,000 dollar, compared with earnings of 400,000 dollar reported in the period of last year – this was mainly due to to the timing of 600,000 dollar in carbon offset revenues during the three months in 2015. There were no carbon offset revenues in the second quarter of 2014. According to the report, the quarter results continued to be impacted by customer driven delays in deliveries under one of the company‘s largest appliance energy efficiency programs and lower byproduct revenues that have resulted from the significant drop in steel and other nonferrous metal prices in the markets in which the enterprise operates.

For the first six months in 2015, total revenues decreased 12.5 percent to 57.7 million dollar. Overall, the company reported a net loss for the time January to June of (1.1) million dollar compared with a positive net income of 1.1 million dollar for the same period in the prior year.