Appliance Recycling Centers Posts Strong Quarterly Results

Allan Gerlat, News Editor

November 4, 2011

1 Min Read
Appliance Recycling Centers Posts Strong Quarterly Results

Appliance Recycling Centers of America Inc. (ARCA) reported large net income and sales increases for its third quarter, driven by strong results from its retail and recycling operating segments.

For the period ended Oct. 1, ARCA’s operating income rose 122 percent to $2.9 million compared with $1.3 million a year earlier. Net income rose similarly to $1.71 million compared with $922,000 in the 2010 period. Diluted earnings per share for the third quarter increased to 30 cents from 16 cents a year ago.

Revenues for the third quarter advanced 31.2 percent to $35.9 million from $27.3 million in the comparable period in 2010.

"I am pleased to report that our third quarter results were driven by a strong upturn in revenues in both our retail and recycling operations,” said Edward (Jack) Cameron, president and chief executive officer, in a news release. “Despite a retail appliance environment that remains highly competitive, our ApplianceSmart stores in three of our four markets achieved solid increases in sales, with the fourth market remaining steady.”

For the nine-month period net income nearly tripled to $4.52 million compared with $1.64 million a year earlier. Revenue rose 19.1 percent to $98.7 million from $82.8 at the same point in 2010.

About the Author(s)

Allan Gerlat

News Editor, Waste360

Allan Gerlat joined the Waste360 staff in September 2011 as news editor. He was the editor of Waste & Recycling News for the first 16 years of its history, and under his guidance the publication won 27 national and regional awards.

Before Waste & Recycling News, Allan worked at another Crain Communications publication, Rubber & Plastics News, which covers rubber product manufacturing. He began with the publication as associate editor and eventually became managing editor, a position he held for nine years.

Allan is a graduate of Ohio University, where he earned a BS in journalism. He is based in Sagamore Hills, in northeast Ohio.

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