Home
Global Supplier Directory
APPLIANCE Engineer
Supplier Solutions
APPLIANCE Line
Whitepaper Library
Calendar of Events
Association Locator
Contents Pages
Market Research
Subscription Center


 
Daily News

Appliance Recycling Centers of America Reports Strong 2Q
Aug 16, 2011
 Printable format
 Email this Article
 Search

Appliance Recycling Centers of America, Inc. (Minneapolis, MN, U.S.) reported second quarter 2011 operating income was up 112% to $2.3 million from $1.1 million in the second quarter of 2010. The increase in operating income came mostly from higher byproduct revenues, higher recycling revenues, and stronger profit margins from ARCA Advanced Processing, LLC.

"AAP has made significant strides in its operations with a steady increase in revenues and profitability over the past year," said Edward R. (Jack) Cameron, president and CEO. "Additionally, our California utility replacement program was bolstered by a strong surge of advertising that increased our volumes substantially in the second quarter. While our retail revenues and gross margins remained relatively flat in the second quarter, the improvements we have made in retail operating efficiencies over the past two years have positioned us to operate effectively in the continuing difficult economic climate.”

Total 2Q 2011 revenues increased 16.6% to $32.9 million from $28.2 million in 2Q 2010.

Comparable store revenues from ApplianceSmart stores operating during the second quarters of 2011 and 2010 decreased 0.9%, and total retail revenues decreased 0.9% to $18.4 million from $18.6 million in the second quarter of 2010. Lower sales in the Georgia, Ohio, and Texas markets were partially offset by an 8.5% increase in sales in the Minnesota market.

Recycling revenues, which are comprised of appliance recycling fees and appliance replacement program revenues, increased 52.0% to $9.6 million in the second quarter of 2011 compared to revenues of $6.3 million in the second quarter of 2010. Appliance recycling fees decreased 6.8% to $4.9 million in the second quarter of 2011 compared to $5.3 million in the second quarter of 2010, due primarily to lower average per-unit recycling fees.

Replacement program revenues of $4.7 million increased 349.0% or $3.7 million from revenues of $1.0 million in the second quarter of 2010, primarily as the result of higher volumes from a California utility customer’s refrigerator replacement program. The company expects an increase in replacement program revenues in the third quarter of 2011 compared to the third quarter of 2010. However, it does not expect this trend to continue past the third quarter of 2011.

Byproduct revenues of $4.9 million increased 46.8% or $1.6 million in the second quarter of 2011 compared to $3.3 million in the second quarter of 2010. The increase in byproduct revenues was primarily the result of higher recycling volumes and higher revenues generated at AAP. Byproduct revenues include all of the revenues generated by AAP.

Back to Daily News

 

Daily News

...........................................................

Oct 30, 2014: Whirlpool Corp. reports strong third-quarter

Oct 30, 2014: Statistical Portrait of the European Appliance Industry Released by Appliance Magazine

Oct 30, 2014: New Whirlpool acquisition Indesit reports profit for year so far

Oct 30, 2014: Consumer Confidence Index rebounds in October

Oct 29, 2014: New home sales up slightly in September 2014

More Daily News>>

RSS Feeds
.........................................................
Appliance Industry
Market Research

...........................................................

October 2014: Portrait of the European Appliance Industry
September 2014: Appliance Industry Focus: HVAC
June 2014: Appliance Magazine Market Insight: April 2014
May 2014: Appliance Magazine Market Insight: March 2014




 
Contact Us | About Us | Subscriptions | Advertising | Home
UBM Canon © 2014  

Please visit these other UBM Canon sites

UBM Canon Corporate | Design News | Test & Measurement World | Packaging Digest | EDN | Qmed | Plastics Today | Powder Bulk Solids | Canon Trade Shows