Appliance Recycling Centers (ARCI) Delays 10-Q Filing; Issues Prelim. Q1 Results

Appliance Recycling Centers (Nasdaq: ARCI) filed to delay its 10-Q submission for its most-recently completed quarter. The company offered the following commentary:

The Company expects to report revenue of approximately $27.5 million for the first three months of fiscal 2015, compared with revenues of $33.1 million for the first three months of fiscal 2014. Net loss attributable to controlling interest is expected to be approximately $1.6 million for the three months ended April 4, 2015, compared to net income attributable to controlling interest of $0.7 million for the three months ended March 29, 2014. The results expected to be reported were unfavorably impacted by delays in the deliveries of replacement appliances under one of our largest utility replacement programs, the declines in the selling prices of scrap metal and other byproducts that we sell, and a decline in carbon offset revenues as compared to the first quarter of fiscal 2014.

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