Appliance Recycling Centers of America Inc. (ARCA) reported lower profits and revenue for its 2003 fiscal year, as recycling revenue suffered from the expiration of two of the company’s three California, U.S. energy conservation programs.
Appliance Recycling Centers posted a net loss of U.S.$1.5 million in 2003, compared with net income of $332,000 the previous year. The company reported revenue of $43.6 million, down from $45.7 million in 2002.
ARCA signed a contract with Southern California Edison Co. in January 2004 to handle appliance recycling in 2004 and 2005 under the state´s residential appliance recycling program. The company expects to recycle 70,000 used but working household appliances during each year of the 2-year contract, approximately doubling the number of appliances it handled in 2003.
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