Pennsylvania based USA Recycling Industries announced that it is now current with its reporting requirements, and has received the OTC Markets “Current Information” designation and symbol. In addition, the company released unaudited financial results for fiscal 2011 and Q1, 2012, ended March 31, 2012. The financial information represents the results from the company’s recycling and waste disposal operations.
For the fiscal year ended December 31, 2011, the company generated $8,086,261 in net revenues, with $738,581 in net profit. The company ended the fiscal year with total assets of $13,241,166 and total liabilities of $3,816,824.
For the quarter Q1, 2012, ended March 31, 2012, net revenue was $4,345,630, versus $2,021,565 for the same period the previous year, a 115% increase. EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) was $470,923, up 109% from $225,415 for the same period the previous year. Net profit for the quarter totaled $187,912.
Full reports are available on the OTC Markets website (www.OTCMarkets.com), and contain information and insight regarding the company’s operations and plans. Investors are strongly encouraged to review the filings.
USA Recycling’s Chairman and CEO, Vincent J. Smith, spoke of the importance of disclosure: “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.”
The company provides a variety of recycling services, covering scrap metal, tires, motor oil and lubricants, automotive batteries, and other recyclables, to customers throughout North America.
To learn more about the company, visit www.usarecyclingindustriesinc.com
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