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ARCA Announces Improved Q2 Results
Jul 29, 2004
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Appliance retailer Appliance Recycling Centers of America, Inc. (ARCA) reported revenues of U.S. $12.9 million in the second quarter ended July 3, 2004. The results marked an increase of 21 percent from $10.7 million from the same period in 2003. The net loss for the quarter declined to $42,000, or $0.02 per share, from $475,000, or $0.20 per share in the second quarter of 2003.

For the first 6 months of 2004, revenues totaled $24.6 million, up 19 percent from $20.7 million in 2003. ARCA's first-half net loss came to $774,000, or $0.32 per share, down from the net loss of $1.3 million, or $0.55 per share for the first half of 2003.

Same-store sales of the eight ApplianceSmart factory outlets that were open during the complete second quarters of 2004 and 2003 rose 13 percent. Total retail sales of all nine ApplianceSmart outlets rose 26 percent on a quarter-over-quarter basis, paced by the strong performance of the new outlet serving the Atlanta, GA, U.S. market. Recycling revenues came to $2.1 million in the second quarter, virtually unchanged from the year-earlier period.

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