SPRINGDALE, AR / ACCESSWIRE / November 14, 2016 / Advanced Environmental Recycling Technologies, Inc. (OTCQB:AERT), a leading plastic recycler and manufacturer of green building products announced today that sales for the quarter ended September 30, 2016, were $20.5 million, down $1.4 million from the third quarter of 2015, largely due to lower international sales.
Gross margin for this year's third quarter was 25.1% of sales versus 24.4% for the third quarter of 2015.
Third quarter net income, at $0.7 million, was down $0.1 million from the third quarter of 2015.
Tim Morrison, AERT's CEO, stated, "This is an exciting time for our company. AERT is in the process of rolling out several new and revolutionary products targeted to closely meet specific customer preferences. More than just a simple change in aesthetics, they represent true game changing technologies that advance our product offering. These products' initial offering began in our Winter Buy, while others will be offered in the first quarter."
AERT will host their third quarter conference call and webcast on Thursday, November 17th, commencing at 11:30 pm (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 800-862-7924. To listen via internet visit http://aert.com/investor-relations/.
About Advanced Environmental Recycling Technologies, Inc.
Since 1989, AERT (OTCQB: 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. 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.
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.
CONTACT: For AERT
SOURCE: Advanced Environmental Recycling Technologies, Inc.