Advanced Environmental Recycling Technologies, Inc. (AERT.OB) Announces Second Quarter Results
Yesterday, Advanced Environmental Recycling Technologies, Inc. announced that sales for the quarter ended June 30, 2010 were $23.2 million. This is up 5 percent from $22.1 million for the second quarter of 2009. As strict cost control continued, the Company's second quarter gross margin improved 2.4 percentage points for 2010 over the prior year. Mainly due to increased promotional expenses, selling and administrative costs for the quarter increased by $0.5 million or 1.3 percentage points of sales. Advanced Environmental Recycling Technologies, Inc. recorded operating income of $2.5 million. This represents a $0.3 million improvement over the quarter ended June 30,…