SPRINGDALE, Ark., Nov. 16, 2015 (GLOBE NEWSWIRE) -- In a release issued under the same headline earlier today by Advanced Environmental Recycling Technologies, Inc. (OTCQB:AERT), please ignore the second sentence in the second paragraph that read "Net income for the quarter, at $1.2 million was up from $0.8 million in the third quarter of 2014." The corrected release follows:
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, 2015, were $21.8 million, up $1.1 million from the third quarter of 2014, largely due to the addition of a new MoistureShield customer.
Gross margin for this year's third quarter was 24.4% of sales versus 24.5% for the third quarter of 2014. Third quarter net income, at $0.8 million, was up $0.3 million from the third quarter of 2014.
Tim Morrison, AERT's CEO, stated, "The third quarter results showed continued sustainable growth. We have focused our spending on new customer acquisition and new product development and we believe that our investment will continue to pay dividends in the coming quarters.
We are excited for our new long term financing agreement with Webster Bank. The five year agreement provides the liquidity needed to support our continued growth."
AERT will host their third quarter conference call and webcast on Tuesday, November 17th, commencing at 11:00 pm (EST)/9:00 am (CST) to discuss the results. Listeners may participate in a question and answer session toward the end of the webcast by calling 877-561-2747. 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. The company recently received an ESGR Patriot Award for its support of our Guard and Reserve Units in the U. S. Armed Forces. 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, 2014.
CONTACT: For AERT Sarah Pore 479-203-5084 www.aertinc.com/investor-relations
Source:Advanced Environmental Recycling Technologies, Inc.