Appliance retailer Appliance Recycling Centers of America, Inc. (ARCA) reported sales increased 6 percent to U.S. $17.9 million for the first quarter period ended April 1, 2006 compared to $16,9 million the year before. ARCA's net loss for this period came to $678,000 or $0.16 per share, compared to the net loss of $433,000 or $0.10 per share in the first quarter of 2005.
Total retail sales increased 6 percent to $15.8 million. First quarter recycling revenues of $1.7 million were substantially unchanged from the year-earlier period.
Additonally, ARCA submitted a proposal for an extension of the appliance recycling program sponsored by Southern California Edison Company for the years 2006 through 2008. ARCA also has submitted a proposal for renewing its appliance recycling program with San Diego Gas & Electric.
Edward R. Cameron, president and CEO, said: "ARCA's results were affected by seasonal conditions that typically cause the first quarter to be ApplianceSmart's weakest period of the year. We also believe high gasoline prices and rising interest rates could have affected the discretionary purchasing decisions of our value-conscious customer base. While the impact of national economic conditions on our customers remains a concern, we believe the second quarter should be a stronger period for our retail operation."
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