SPRINGDALE, Ark., March 22, 2010 (GLOBE NEWSWIRE) -- Advanced Environmental Recycling Technologies, Inc. (OTCBB:AERT), a leading plastics recycler and leading manufacturer of Green building products, today announced it will hold a conference call to discuss the company's 2009 fourth quarter and year-end results on Tuesday, March 30, 2010 at 3:00 PM CDT/4:00 PM Eastern time. Listeners may participate in a question and answer session toward the end of the webcast by calling (877) 303-6169.
Date: March 30, 2010 Time: 4:00 PM ET
Listen via Internet: http://www.aertinc.com/ir/webcasts.aspx
Schedule this webcast into MS-Outlook calendar (click open when prompted:
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Telephone: (877) 303-6169
AERT's sales for the year ended December 31, 2009 were $71.1 million, down from $87.4 million for the year ended December 31, 2008. Sales for the fourth quarter of 2009 were $13.2 million, compared to $14.3 million in the fourth quarter of 2008. Excluding class action charges in 2009 and 2008, AERT's earnings improved to net income of $0.1 million in 2009 compared to a net loss of $31.1 million in 2008. Including the class action accrual, AERT's net loss was reduced to $5.0 million, or $0.10 per share, in 2009 compared to a net loss of $35.9 million, or $0.75 per share, in 2008.
2009 continued to be a challenging year for the building materials industry and for AERT, marked by lower sales to distributors who maintained low inventory levels, and a decline in sales at the retail level. However, efforts to reduce costs and improve manufacturing efficiencies enabled the company to overcome lower sales and record net income for the year, before a $5.1 million class action lawsuit accrual. In addition, despite lower sales, AERT achieved an increase in gross margin of 73% YOY.
The Company plans to release its 2009 Form 10-K on Friday, March 26, 2010.
About AERT: 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. 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 Weyerhaeuser ChoiceDek decking, which is available in multiple colors and is sold in all Lowe's Home Improvement stores throughout North America. AERT's MoistureShield decking program is expanding and products are available in most areas in the U.S., with national distribution planned for 2010. AERT operates manufacturing facilities in Springdale and Lowell, Arkansas and recently commenced operations at its Green Age recycling facility in Watts, Oklahoma. For more information on the Company, visit http://www.aertinc.com.
The AERT, Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7242
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, 2008 and its Quarterly Report on Form 10-Q for the quarter ended September 30, 2009.