Appliance Recycling Centers Reports Improved 1Q May 11, 2010

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Appliance Recycling Centers of America's total first quarter 2010 revenues increased 4.2% to $27.3 million, from $26.2 million in the first quarter of 2009.

Comparable store revenues from ApplianceSmart Factory Outlets operating during the entire first quarters of 2010 and 2009 increased 5.9%, while total retail revenues increased 1.2% to $21.2 million from $20.9 million during the same period of 2009. The increase in comparable store revenues was credited to stronger sales in Minnesota and Ohio, where state-administered Energy Star appliance rebate programs began in March.

Recycling revenues, which include appliance recycling fees and low-income appliance replacement program revenues, decreased 5.9% to $4.3 million in the first quarter of 2010 compared to revenues of $4.6 million in the same period of 2009.

While appliance recycling fees increased 15.6% to $3.2 million for the first quarter of 2010 compared to $2.8 million in the first quarter of 2009, replacement program revenues decreased $0.7 million, primarily as the result of lower volumes for a California utility customer's replacement program.

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