AERT Quarterly Sales Decline
Last updated Friday, July 20, 2007 10:17 PM CDT in Business
BY THE MORNING NEWS
Advanced Environmental Recycling Technologies Inc. reported Friday that unaudited sales for the quarter ended June 30 were $25.9 million, down 10.6 percent from the same period in 2006.
The Springdale-based company said it expects to report a net income loss for the quarter. A full report on second quarter earnings is scheduled for August 6, according to the company statement.
An income loss would continue a downward trend.
While net sales for Advanced Environmental Recycling Technologies Inc. rose 12 percent for fiscal year 2006, net income plummeted 77 percent from $7.8 million in fiscal 2005 to $1.8 million in fiscal 2006. In the first quarter of fiscal 2007, the company posted a loss of $1.17 million.
AERT uses recycled plastic to manufacture building materials. The company is the exclusive manufacturer of Weyerhaeuser ChoiceDek decking that is sold in Lowe's Home Improvement stores.
The company's shares (NASDAQ: AERT) closed Friday at $1.68, up 15 cents -- an almost 10 percent jump for the thinly traded stock. For the past 52 weeks the share price has ranged from a $2.72 high to a $1.31 low.
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