Appliance retailer Appliance Recycling Centers of America, Inc. reported revenues of U.S. $74.9 million for the year ended Dec. 31, 2005, an increase of 42 percent from $52.8 million in 2004. ARCA's net loss for the year declined to $933,000, or $0.22 per diluted share, from $1.3 million, or $0.48 per diluted share in the prior year.
For the fourth quarter of 2005, revenues increased 32 percent to $18.1 million from $13.7 million in the fourth quarter of 2004. ARCA's net loss for the fourth quarter of 2005 was $951,000, or $0.22 per diluted share, compared to the net loss of $800,000, or $0.27 per diluted share, in the fourth quarter of 2004.
Same-store sales of the nine ApplianceSmart factory outlets that were open during full years 2005 and 2004 increased 16 percent, while total retail sales of all 13 ApplianceSmart outlets increased 49 percent in 2005 to $62.3 million. Same-store sales of the nine ApplianceSmart outlets that were open during the fourth quarters of 2005 and 2004 rose 11 percent, with total retail sales up 37 percent to $14.7 million.
Edward R. Cameron, president and CEO, commented: "To continue to grow and gain efficiencies in our operations in this market, we have determined that we need to move to facilities that will better accommodate the expansion of our business. Our goal of dropping more of every sales dollar to our bottom line is our top priority going forward. We are committed to making measurable progress toward this objective during the coming year."
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