Appliance Recycling Centers of America, Inc. (ARCA), a retailer of special-buy household appliances, reported revenues of U.S. $52.8 million for the year ended Jan. 1, 2005, an increase of 21 percent from $43.6 million in 2003. ARCA also reported a net loss of $1.3 million, or $0.48 per share, in 2004, down from the net loss of $1.5 million, or $0.66 per share, in the prior year.
For the fourth quarter of 2004, revenues totaled $13.7 million, up 25 percent from $11.0 million in the comparable period of 2003. ARCA's net loss for this period came to $800,000, or $0.27 per share, compared to the net loss of $291,000, or $0.12 per share, in the fourth quarter of 2003.
The retailer said its 2004 fourth-quarter loss included a net tax benefit of $482,000 as a result of a federal income tax credit for a prior carry back claim, offset by an increase in the deferred tax asset valuation allowance.
Recycling revenues increased 20 percent to $2.6 million in the fourth quarter and 17 percent to $9.4 million for full-year 2004 compared to the prior year periods.
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