Appliance Recycling Centers of America Reports 2Q Results
Aug 7, 2013
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Appliance Recycling Centers of America, Inc. (Minneapolis, MN), reported second quarter revenues were up 9.2% to $32.3 million, from $29.5 million in the second quarter of 2012.
The company said it grew total revenues through a 160% increase in appliance replacement program revenues, partially offset by a 6% decline in retail revenues and a 9% decline in ARCA Advanced Processing, LLC (AAP) revenues.
The company closed one underperforming ApplianceSmart store in Minnesota, and ended the quarter with 18 stores. It had 21 stores at the end of the second quarter of 2012.
During the quarter the company restructured and relocated the call center supporting utility contracts, moving it from California to Minnesota. The quarter also saw the company appoint Mark Eisenschenk to chief operating officer and president of ARCA Recycling, Inc.
ApplianceSmart, the company's retail appliance business, saw same store sales for the second quarter of 2013 decline 3.9% from the same quarter in the previous year. ApplianceSmart total retail revenues were down 6.1% to $17.8 million from the same period of 2012.
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