Appliance Recycling Centers of America Investing in Expansion
May 7, 2012
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Appliance Recycling Centers of America, Inc. reported a first quarter 2012 consolidated net loss of $66,000 versus a consolidated net income of $674,000 in the first quarter of 2011.
ARCA said the first quarter near-breakeven results were expected and in-line with it's projections based on continuing investments in infrastructure to support growing business opportunities.
In the first quarter of 2012, the company opened its 11th and 12th recycling centers, these in in Nova Scotia, Canada, and Louisville, KY.
During the quarter it also extended contracts with Xcel Energy to provide refrigerator and freezer recycling services in Colorado, Minnesota, and New Mexico through 2014, and with Central Hudson Gas & Electric in New York to provide turnkey appliance recycling services and air conditioner recycling rebates through March 31, 2013.
Also during the quarter it achieved a milestone with client San Diego Gas & Electric in California by recycling the 150,000th appliance for the utility's program.
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