AERT Announces 2012 Year End Results
SPRINGDALE, Ark., March 15, 2013 (GLOBE NEWSWIRE) -- Advanced Environmental Recycling Technologies, Inc. (OTCBB:AERT) announced today that net sales for the year ended December 31, 2012 were $74.6 million, up from $59.3 million for the year ended December 31, 2011. Net sales for the fourth quarter of 2012 were $11.5 million, up $2.7 million from $8.8 million in the fourth quarter of 2011.
Our MoistureShield ® line continued its sales growth as international sales grew and new domestic customers were added. Sales of the ChoiceDek ® product line also grew year-over-year. In 2011, sales were reduced by a $4.6 million inventory refresh that entailed the replacement of ChoiceDek ® product at Lowe's stores with a newly designed ChoiceDek ® Foundations™ product.
AERT's net loss for 2012 was $2.0 million, or $0.02 per share, as compared to the 2011 net loss of $8.0 million, or $0.10 per share. The 2011 loss included total costs of $4.6 million associated with the inventory refresh.Commenting on the results, Tim Morrison, President of AERT noted, "We are pleased with our continued sales growth, particularly our international growth. Our team's ongoing focus on bringing new products to market, such as new colors and a new line of handrail components to Lowe's is very exciting." Joe G. Brooks, CEO of AERT noted that samples of pelletized recycled plastic have been received with great interest by potential OEM customers and discussions on terms are proceeding. Mr. Brooks also said, "Our new term loan and revolver with AloStar Bank of Commerce, together with the HIG recapitalization, puts AERT on a firm foundation and well positioned for growth as housing and remodeling regain momentum." The Company released its fourth quarter earnings and 2012 Form 10-K on Friday, March 15, 2013 and will host a conference call and webcast on Monday, March 18, 2013, beginning at 11:00 am (EDT), 10:00 am (CDT) to discuss the results. Listeners may participate in a question and answer session toward the end of the webcast by calling (877) 561-2747. To listen via internet visit http://aert.com/ir/webcasts.aspx . About Advanced Environmental Recycling Technologies, Inc. Since 1989, AERT (OTCBB: AERT) has pioneered the use of recycled polyethylene plastic in the manufacture of composite building materials. With its constantly evolving portfolio of patented and proprietary recycling technologies, AERT has been widely recognized as a leader in resource conservation innovation and received the EPA Award for Environmental Excellence for its process of converting scrap plastic to composite outdoor decking. The company recently received an ESGR Patriot Award for its support of our Guard and Reserve Units in the U. S. Armed Forces. AERT converts reclaimed plastic and wood fiber waste into quality outdoor decking systems, fence systems, and door and window components. The Company is the exclusive manufacturer of ChoiceDek ® decking, which is available in multiple colors and is sold in Lowe's Home Improvement stores nationwide. See http://www.choicedek.com for more information. AERT's MoistureShield ® decking program is expanding and products are now available throughout the U.S. See http://www.moistureshield.com for product information or to find a regional distributor or dealer. AERT operates manufacturing facilities in Springdale and Lowell, Arkansas and recently commenced operations at its Green Age recycling facility in Watts, Oklahoma. Investors can access real-time stock quotes and information at http://www.otcmarkets.com. For more information on the Company, visit http://www.aertinc.com. Sign up to receive investor information, including press releases, via email by visiting http://aert.com/ir/PressReleaseOptIn.aspx. The AERT, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=4905 Certain statements in this news release regarding projected results of operations, or, projected results of financial plans or future strategies and initiatives, including, but not limited to, projections of revenue, projections of profitability, any and all future expectation, and plans for future activities may and should be regarded as "forward-looking statements'' within the meaning of the Securities Litigation Reform Act. These statements involve, among other things, known and unknown risks, uncertainties and other factors that may cause AERT, Inc.'s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. AERT currently is considering, but may or may not in the future implement any or all of the items and issues listed in any planned budget or strategic initiative, due to, among other things, known and unknown risks, uncertainties and other factors.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV