Recycled building products manufacturer declares loss

March 15 -- With lower sales and class action charges, recycled building products manufacturer Advanced Environmental Recycling Technologies, Inc. declared a loss of $5.0 million, or $0.10 per share, for 2009. In 2008 the company reported a loss of $31.1 million or $0.75 per share.

Sales in 2009 were $71.1 million, compared to $87.4 million in 2008. Excluding charges related to class-action settlements, the company reported net income of $100,000.

The company said the class action settlement is now closed. With cost reductions and manufacturing changes, AERT CEO Joe Brooks said the company returned to profitability in the second quarter of 2009.

Fourth-quarter and year-end results will be released March 26. A conference call and Web cast, details to be announced, will be held at 4 p.m. March 30.

Contact Waste & Recycling News reporter Amanda Smith-Teutsch at 330-865-6166 or asmith-teutsch@crain.com