SPRINGDALE, AR / ACCESSWIRE / May 11, 2016 / Advanced Environmental Recycling Technologies, Inc. (OTCQB:AERT) announced today that net sales for the quarter ended March 31, 2016 were $17.1 million, a 40.6% increase from $12.2 million for the year ended March 31, 2015.
Gross margin for this year's first quarter, at $3.8 million and 22.0% of sales was up 154.4% from the 2015 first quarter gross margin of $1.5 million, representing 12.2% of sales. Lower labor and overhead costs contributed to the margin improvement in addition to the revenue growth.
AERT's net loss for the quarter was $0.9 million, or $0.01 per share, as compared to the 2015 first quarter net loss of $2.8 million or $0.03 per share.
Commenting on the results, Tim Morrison, CEO of AERT noted, "The 1st quarter results are a great first step to what should be a good year for AERT. Our sales and operating associates delivered outstanding results with improvements in both top line revenue and operating margins. We are actively pursuing revenue opportunities to further improve our results for the rest of 2016."
AERT will host their first quarter conference call and webcast on Monday, May 16, 2016 commencing at 11:30 am (EST)/10:30 am (CST) to discuss the results. Listeners may participate in a question and answer session toward the end of the webcast by calling 855-296-9643. To listen via internet visit http://aert.com/investor-relations.
About Advanced Environmental Recycling Technologies, Inc.
AERT (OTCQB: AERT), founded in 1988, recycles polyethylene plastic and develops, manufactures, and markets composite building materials that are used in place of traditional wood or plastic products for exterior applications in building and remodeling homes and for certain other industrial or commercial building purposes. The Company's products are manufactured primarily from approximately equal amounts of waste wood fiber, which has been cleaned, sized and reprocessed, and recycled polyethylene plastics that have been cleaned, processed, and reformulated utilizing our patented and proprietary technologies. 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 products are available throughout the U.S. and internationally. 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 Watts, Oklahoma.
Advanced Environmental Recycling Technologies, Inc. (OTCQB: AERT) trades on the OTCQB venture stage marketplace for early stage and developing U.S. and international companies. Companies are current in their reporting and undergo an annual verification and management certification process. Investors can access real-time quotes and market information for the company on http://www.otcmarkets.com. For more information on the Company, visit http://www.aert.com. Sign up to receive investor information, including press releases, via email by visiting http://aert.com/contact-us/.
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.
AERT, Inc. undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, change in strategy, or otherwise. The above-mentioned listing of risks and uncertainties is not inclusive. For a more detailed discussion of some, but not all, of the risks and uncertainties that may affect AERT, Inc., see AERT, Inc.'s filing with the Securities and Exchange Commission, including its Annual Report on Form 10-K, for the fiscal year ended December 31, 2015.
SOURCE: Advanced Environmental Recycling Technologies, Inc.