trending Market Intelligence /marketintelligence/en/news-insights/trending/NgfJHZOBRkYJ0OFwtH_IqA2 content esgSubNav
In This List

Appliance Recycling Centers of America swings to loss in fiscal Q1

Blog

Post-webinar Q&A: Global Credit Risk Trends 2021 and Beyond

Blog

Shore Capital is Now Available in S&P Global’s Aftermarket Research Collection

Video

S&P Capital IQ Pro | Powered by Advanced Visualization

Video

S&P Capital IQ Pro | Unrivaled Sector Coverage


Appliance Recycling Centers of America swings to loss in fiscal Q1

Appliance Recycling Centers of America Inc. said its normalized net income for the fiscal first quarter ended April 4 was a loss of 22 cents per share, compared with 13 cents per share in the first quarter ended March 29, 2014.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of $1.3 million, compared with income of $734,250 in the first quarter ended March 29, 2014.

The normalized profit margin fell to negative 4.6% from 2.2% in the year-earlier period.

Total revenue declined 16.8% year over year to $27.5 million from $33.1 million, and total operating expenses fell 6.0% on an annual basis to $29.5 million from $31.4 million.

Reported net income came to a loss of $1.7 million, or a loss of 29 cents per share, compared to income of $702,240, or 12 cents per share, in the first quarter ended March 29, 2014.