OTC Bulletin Board

S & P Company Insight for ADVANCED ENVIRO A
 
 Profile

 
Business Summary: Advanced Environmental Recycling Technologies, Inc. develops, manufactures, and markets composite building materials that are used for exterior applications in building and remodeling homes, and other industrial or commercial building purposes.
 
Address
  914 N. Jefferson St.
  Springdale , AR 72764
  Phone: 479-756-7400
  Fax: 479-756-7410
  Website: http://www.aertinc.com
Transfer Agent
  American Stock Transfer & Trust Co.
Employees:  462
ShareHolders:  1400
Founded:  1988
Domicile:  Delaware
 
  
 
 Background

 
Advanced Environmental Recycling Technologies, Inc. develops, manufactures, and markets composite building materials that are used for exterior applications in building and remodeling homes, and other industrial or commercial building purposes. Its products are made primarily from waste wood fiber and recycled polyethylene plastics. The company manufactures various product lines, which include commercial and residential decking planks and accessories, such as balusters and handrails under the MoistureShield and ChoiceDek brand names; exterior door components; exterior housing trims under the MoistureShield brand name; deck tiles; and recycled resin compounds. Its products are primarily used in renovation and remodeling by consumers, homebuilders, and contractors as an exterior green building alternative for decking, railing, and trim products. The company was founded in 1988 and is based in Springdale, Arkansas.
History:  INCORPORATED in Delaware Dec. 2, 1988.
 
 
Capital Expenditures, thousand. US Dollars
  Year  Amount
  2009  10,312
  2008  6,443
  2007  4,526
 
Research and Development Expenditures, thousand. US Dollars
  Year  Amount
  2009  300
  2008  323
  2007  266
 
  
 
 Management

 

Management
OfficersPosition
 Joseph G. BrooksChairman & Chief Executive Officer
 Stephen W. BrooksSecretary, Chief Operating Officer & Vice Chairman
 Timothy D. MorrisonPresident
 J. R. Brian HannaChief Financial Officer
 Eric E. BarnesChief Accounting Officer
 J. Douglas BrooksSR VP
 Katy  ReaganInvestor Relations Contact

Directors
 Joseph G. Brooks
 Stephen W. Brooks
 Jerry B. Burkett
 Edward P. Carda
 Timothy D. Morrison
 
  
 
 Annual Report

 
Annual Report
 
Income Statement
  20092008
REVENUES
Net Sales71,07387,398
EXPENSES
Cost of Goods Sold(55,223)(78,317)
Selling and Administrative Costs(11,924)(20,530)
Gain/loss from Asset Impairment and Disposition92(5,516)
Net Interest Expense(3,396)(3,781)
Late Registration Fees273(682)
Estimated Liability for Claims from Class Action Settlement(5,100)(2,870)
Estimated Liability from Expected Class Action Settlement-(1,963)
Earnings before Taxes(4,205)(26,261)
TAXES AND OTHER EXPENSES
Provision for Income Tax-(8,831)
Net Income (Loss)(4,205)(35,092)
CHARGES ON NET INCOME
Dividends on Preferred Stock(805)(826)
Net Income Available to Common Shareholders(5,010)(35,918)
SUPPLEMENTARY INFO
Gross Profit/loss10,750.006,211.00
Operating Income (Loss)(1,082.00)(19,835.00)
Basic EPS - Continuing Operations(0.10)(0.75)
Diluted EPS - Continuing Operations(0.10)(0.75)
 
Balance Sheet
  20092008
CURRENT ASSETS
Cash and Cash Equivalents2431,238
Accounts Receivables5,1631,574
Inventories6,79510,551
Prepaid Expenses707933
Restricted: Cash and Cash Equivalents-7,631
Total Current Assets12,90821,927
NON CURRENT ASSETS
Construction in Progress16,0065,810
Building & Leasehold Improvements8,9039,213
Land1,9891,989
Transportation Equipments8301,125
Machinery, Equipment45,29646,680
Office Equipment2,3962,801
Less Accumulated Depreciation(36,240)(33,004)
Debt Issuance Costs2,9413,151
Other Assets1,087371
Debt Service Reserve Fund2222,101
Total Assets56,33862,164
LIABILITIES
Accounts Payable-trade9,07810,700
Accounts Payable-related Parties636487
Other Accrued Liabilities6,5786,305
Working Capital Line of Credit7,82910,579
Notes Payable1,2381,167
Current Maturities of Long-term Debt2,8788,490
Current Maturities of Capital Lease Obligations244215
Accruals Related to Expected Settlement of Class Action Lawsuit7,2454,650
Total Current Liabilities35,72642,593
NON CURRENT LIABILITIES
Long-term Debt-less Current Maturities28,26023,244
Capital Lease Obligations-less Current Maturities401582
Preferred Stock Convertible78
Preferred Stock Equity Adjustments948143
SHAREHOLDERS' EQUITY
Common Stock - Par Value481474
Common Stock - Par Value1515
Additional Paid in Capital52,71152,306
Accumulated Deficit(63,744)(58,734)
Warrants Outstanding1,5331,533
Total Shareholders Equity(8,997)(4,398)
Total Liabilities & Shareholders Equity56,33862,164
 
  
 
 Interim Report

 
Interim Report   
 
Data Not Available
 
 
 
 
  
 
 Pro Forma Report

 
Pro Forma Report   
 
Data Not Available
 
 
 
 
  
 
 Quarterly Report

 
Quarterly Report Information   
 
Quarterly Revenue, US$
YearQuarterRevenue
  2010   116,390,000
  2010   223,230,000
  2009   116,650,000
  2009   222,090,000
  2009   319,100,000
  2009   413,240,000
  2009   Full Year 71,070,000
  2008   129,360,000
  2008   225,080,000
  2008   318,630,000
  2008   414,320,000
  2008   Full Year 87,400,000
  2007   122,370,000
  2007   225,340,000
  2007   324,800,000
  2007   49,700,000
  2007   Full Year 82,210,000
  2006   127,670,000
  2006   228,110,000
  2006   320,800,000
  2006   421,270,000
  2006   Full Year 97,840,000
  2005   119,940,000
  2005   220,950,000
  2005   323,100,000
  2005   423,320,000
  2005   Full Year 87,310,000
 
 
Quarterly Net Income, US$
YearQuarterRevenue
  2010   1(200,000)
  2010   21,470,000
  2009   1(1,420,000)
  2009   21,540,000
  2009   3(3,870,000)
  2009   4(450,000)
  2009   Full Year (4,200,000)
  2008   1(1,220,000)
  2008   2(7,550,000)
  2008   3(1,710,000)
  2008   4(24,620,000)
  2008   Full Year (35,090,000)
  2007   1(1,170,000)
  2007   2(380,000)
  2007   3(1,530,000)
  2007   4(6,430,000)
  2007   Full Year (8,870,000)
  2006   1910,000
  2006   21,720,000
  2006   3(310,000)
  2006   4(520,000)
  2006   Full Year 1,810,000
  2005   1670,000
  2005   2920,000
  2005   31,650,000
  2005   44,560,000
  2005   Full Year 7,797,700
 
 
Quarterly EPS, US$
YearQuarterRevenue
  2010   1(.01)
  2010   2.03
  2009   1(.03)
  2009   2.03
  2009   3(.08)
  2009   4(.01)
  2009   Full Year (.10)
  2008   1(.03)
  2008   2(.16)
  2008   3(.04)
  2008   4(.51)
  2008   Full Year (.75)
  2007   1(.03)
  2007   2(.01)
  2007   3(.03)
  2007   4(.13)
  2007   Full Year (.21)
  2006   1.02
  2006   2.04
  2006   3(.01)
  2006   4(.01)
  2006   Full Year .04
  2005   1.01
  2005   2.02
  2005   3.04
  2005   4.11
  2005   Full Year .22
 
  
 
 Stock Data

 
 
Capitalization as of 03/31/2010:
 
 Authorized SharesOutstanding Shares
Class B Convertible Common $0.01 par7,500,0001,465,530so1
Class A Common $0.01 par100,000,00048,105,554
Preferred $0.01 par5,000,000748,772so3
 
LONG TERM DEBT: $28,609,000.
 
Class A Common $0.01 par
 
CLASS A COMMON is identical to Class B Common with respect to dividends and liquidation rights.
 
Stockholders:  03/24/2010, 1400.
Transfer Agent:  American Stock Transfer & Trust Co.   New York , NY
 
OTC Bulletin Board( Primary): AERT
 
ExchangeYearHighLow
OTC Bulletin Board20090.75000.1200
Nasdaq Capital Market20081.39000.0300
Nasdaq Capital Market20072.07000.7000
Nasdaq Capital Market20063.71001.4800
Nasdaq Capital Market20051.85001.1900
NASDAQ Small Cap20041.72001.0000
NASDAQ Small Cap20031.82000.9800
NASDAQ Small Cap20022.74001.1000
NASDAQ Small Cap20011.60000.7100
NASDAQ Small Cap20003.56000.6500
 
DIVIDENDS: Class A Common $0.01 par: None.
 
 
  so1Closely held. Each Class B share is convertible into one Class A share.
  so3Closely held.