AERT Announces 2016 Year End Results
Mar 17, 2017 (ACCESSWIRE via COMTEX) --
Copyright 2017 ACCESSWIRE
SPRINGDALE, AR / ACCESSWIRE / March 17, 2017 / Advanced Environmental Recycling Technologies, Inc. (OTCQB:AERT) announced today that net sales for the year ended December 31, 2016 were $85.3 million, up 3.2% from $82.7 million for the previous year. Net sales for the fourth quarter of 2016 were $18.7 million, up $1.6 million or 9.4% from $17.1 million in the fourth quarter of 2015.
Commenting on the results, Tim Morrison, CEO of AERT noted, "AERT continues to build momentum. In 2016 our associates expanded our distribution relationships and focused on achieving operational efficiencies, resulting in measurable growth in both top and bottom lines. Those efforts will continue into 2017 as we build upon those successes and increase our focus on new product introduction. We have commenced selling our new products which were recently displayed at the International Builders Show in Orlando. We are especially excited to introduce our CoolDeck™ line of products which uniquely provide a more comfortable user experience. Early indications are that our customers are as excited as we are about our new products."
Gross Margin increased $5.3 million to $22.4 million for 2016 while the fourth quarter gross margin increased to $4.5 million from $3.8 million in the fourth quarter of 2015.
AERT's net income for 2016 was $2.2 million as compared to the 2015 net loss of $0.9 million.
The Company has filed its 2016 Form 10-K with the SEC and will host a conference call and webcast on Friday, March 17, 2017, 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 (866) 682-6100. 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's primary manufacturing facility is located in Springdale, Arkansas, and the company also operates recycling facilities in 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 expectations, and plans for future activities may and should be regarded as ''forward-looking statements'' within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. 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. While these forward-looking statements, and any assumptions upon which they are based, are made in good faith and reflect management's current judgment, actual results will almost always vary, sometimes materially, from any estimates, predictions, projections, or other future performance suggested herein. Some important factors (but not necessarily all factors) that could affect the sales volumes, growth strategies, future profitability and operating results, or that otherwise could cause actual results to differ materially from those expressed in any forward-looking statement include the following: market, political or other forces affecting the pricing and availability of plastics and other raw materials; accidents or other unscheduled shutdowns affecting us, our suppliers' or our customers' plants, machinery, or equipment; competition from products and services offered by other enterprises; our ability to refinance short-term indebtedness; state and federal environmental, economic, safety and other policies and regulations, any changes therein, and any legal or regulatory delays or other factors beyond our control; execution of planned capital projects; weather conditions affecting our operations or the areas in which our products are marketed; adverse rulings, judgments, or settlements in litigation or other legal matters.
The foregoing listing of risks and uncertainties is not exclusive. 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, 2016. 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.
CONTACT: For AERT
SOURCE:Advanced Environmental Recycling Technologies, Inc.