USA Recycling Industries Files Financial Results and Achieves Current Status on OTC Markets
(firmenpresse) - READING, PA -- (Marketwire) -- 06/04/12 -- USA Recycling Industries, Inc. (PINKSHEETS: USRI), a Pennsylvania-based scrap metals recycler providing specialty recycling services throughout North America, is pleased to announce that it is now current with its reporting requirements and has received the OTC Markets "Current Information" designation and symbol.
The unaudited financial information submitted represents the results of operations from the Company's recycling and waste disposal services. For the fiscal year ending December 31, 2011, the Company generated $8,086,261 in net revenues and $738,581 in net profit. USA Recycling ended the year with $13,241,166 in total assets and total liabilities of $3,816,824.
Net revenue for the quarter ending March 31, 2012, was $4,345,630 versus $2,021,565 for the same period a year earlier, which represents an increase of 115%. Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) rose 109% from $225,415 for Q1 2011 to $470,923 for Q1 2012. Net profit for the three-month period totaled $187,912.
The full reports are available on the OTC Markets website (). Each report provides valuable information and insight regarding the Company's plans and operations. Investors are strongly encouraged to review the filings.
"As we expand our operations and focus on increasing profitability, we want to demonstrate our commitment to full disclosure. Posting up-to-date financial reports gives us a new, improved level of transparency that should enable existing shareholders to easily monitor our performance as we execute our business plan. We also believe these filings will help us access growth capital for further expansion," stated Vincent J. Smith, CEO and Chairman.
About USA Recycling Industries, Inc.
USA Recycling operates specialty recycling service centers engaged in the specialized business of collecting recyclable waste materials and providing specialty disposal services to the automotive service center industry. The Company derives revenues from the collection and sale of recyclable materials, as well as the waste disposal services it provides to the automotive service center industry. USA Recycling, through its systems, operating methods and alliances, is considered a leader in the national recycling market servicing the automotive service center industry.
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Safe Harbor Forward-Looking Statements
To the extent that statements in this press release are not strictly historical, including statements as to revenue projections, business strategy, outlook, objectives, further milestones, plans, intentions, goals, future financial conditions, future collaboration agreements, the success of the Company's development, events conditioned on stockholder or other approval, or otherwise as to future events, such statements are forward-looking, and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. The forward-looking statements contained in this release are subject to certain risks and uncertainties that could cause actual results to differ materially from the statements made.
Contact
Vincent J. Smith
CEO
USA Recycling Industries, Inc.
Telephone: +1-877-464-5865
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Datum: 04.06.2012 - 13:15 Uhr
Sprache: Deutsch
News-ID 152692
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contact information:
Town:
READING, PA
Kategorie:
Hazadous Materials Management
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