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Appliance Recycling Centers of America Inc (ARCI.O) Key Developments

Appliance Recycling Centers Of America Inc : Appliance Recycling Centers of America reports second quarter 2016 operating results . Q2 loss per share $0.35 . Q2 revenue fell 17.9 percent to $24.8 million . Quarter was lower than expected as revenues were down and receipt of carbon offset revenue was delayed . Recognized $1.6 million in carbon offset revenues in q3 of 2016 .Says “there has been weakness in scrap and other metal markets”. 

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Appliance Recycling Centers of America Inc:Says Xcel Energy has selected the Company to continue providing appliance recycling services for the utility’s Refrigerator and Freezer Recycling Program through December 2018. 

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Appliance Recycling Centers of America Inc:On May 18, the board of directors of the company removed Mark Eisenschenk from the positions of President and Chief Executive Officer of the company.On May 18, the company named Edward R. (Jack) Cameron, to the positions of President and Chief Executive Officer. 

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Appliance Recycling Centers of America Inc:Says that it has been granted a patent (US Patent No. 8,931,289) covering its systems, methods and techniques for facilitating the recovery and recycling of refrigerants and oil from refrigerators, freezers, air conditioners, and similar appliances that contain refrigerant in their sealed systems. 

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Appliance Recycling Centers of America Inc:Appoints Jeffery Ostapeic as the Chief Financial Officer. 

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Appliance Recycling Centers of America Inc:Says Jeffrey Cammerrer, Chief Financial Officer, to step down effective Nov. 21.Continue to assist the company with various matters to support an orderly transition through the first quarter of 2015.Says Mark Eisenschenk, President and Chief Executive Officer, to serve as the company’s acting CFO and principal accounting officer while the company considers both internal and external candidates. 

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http://www.reuters.com/finance/stocks/ARCI.O/key-developments

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