USA Recycling Industries, Inc. Reports Unaudited Earnings Results for the Fiscal Year Ended December 31, 2011 and First Quarter Ended March 31, 2012
June 04, 2012 at 09:15 am EDT
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USA Recycling Industries, Inc. reported unaudited earnings results for the fiscal year ended December 31, 2011 and first quarter ended March 31, 2012. For the year, the company generated $8,086,261 in net revenues and $738,581 in net profit.
For the first quarter ended March 31, 2012, the company reported net revenue of $4,345,630 versus $2,021,565 for the same period a year earlier, which represents an increase of 115%. Earnings before interest, taxes, depreciation and amortization (EBITDA) rose 109% from $225,415 for first quarter of 2011 to $470,923 for first quarter of 2012. Net profit for the three-month period totaled $187,912.
USA Recycling Industries Inc. (USA Recycling Industries), formerly Voyager Petroleum, Inc., is a scrap metal recycler servicing commercial and industrial customers throughout North America. USA Recycling Industries provides privately label and wholesale petroleum-based products to end users, including small to medium sized fuel blenders and refineries, as well as automotive and manufacturing markets. The Companyâs services include quick pickup, free pickup and drop off and pickup of Scrap USA containers. Its divisions include scrap metal recycling, used motor oil and related lubricants, used tire recycling, auto battery recycling, electronic waste recycling and franchise opportunities. As of March 14, 2011, USA Recycling Industries provided specialty recycling programs to more than 4,000 automotive service center locations operated in that retail category. In December 2010, the Company acquired of Earth Metal Scrap USA, Inc.