UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No._10_)* Appliance Recycling Centers of America, Inc. - ----------------------------------------------------------------------------- (Name of Issuer) Common Stock - ----------------------------------------------------------------------------- (Title of Class of Securities) 03814F-20-5 - ----------------------------------------------------------------------------- (CUSIP Number) December 31, 1999 - ----------------------------------------------------------------------------- (Date of event which requires filing of this statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: /X/ Rule 13d-1(b) /_/ Rule 13d-1(c) /_/ Rule 13d-1(d) *The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. SEC 1745 (2/92) Page 1 of 5 pages CUSIP No. 03814F-20-5 13G Page 2 of 5 pages 1 NAME OF REPORTING PERSON S.S. OR IRS IDENTIFICATION NO. OF ABOVE PERSON Perkins Capital Management, Inc. IRS ID No.: 41-1501962 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP* (a) /_/ (b) /_/ 3 SEC USE ONLY 4 CITIZENSHIP OR PLACE OF ORGANIZATION 730 East Lake Street, Wayzata, MN 55391-1769 5 SOLE VOTING POWER NUMBER OF 625,200 6 SHARED VOTING POWER SHARES 0 BENEFICIALLY OWNED BY 7 SOLE DISPOSITIVE POWER 639,350 EACH REPORTING PERSON 8 SHARED DISPOSITIVE POWER 0 WITH 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 638,350 10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* /_/ 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 28.0% 12 TYPE OF REPORTING PERSON* IA SEC 1745 (2/92) Page 2 of 5 pages CUSIP No. 03814F-20-5 13G Page 3 of 5 pages ITEM 1. (a) Name of Issuer Appliance Recycling Centers of America, Inc. (b) Address of Issuer's Principal Executive Offices 7400 Excelsior Blvd., Minneapolis, MN 55426 ITEM 2. (a) Name of Persons Filing Perkins Capital Management, Inc., a Minnesota Corporation (b) Address of Principal Business Office or, if none, Residence 730 East Lake Street, Wayzata, MN 55391-1769 (c) Citizenship A Minnesota Corporation (d) Title of Class of Securities Common (e) CUSIP Number 03814F-20-5 ITEM 3. If this statement is filed pursuant to Rule 13d-1(b), or 13d-2(b), check whether the person filing is a: (a) /_/ Broker or a Dealer registered under Section 15 of the Act (b) /_/ Bank as defined in section 3(a)(6) of the Act (c) /_/ Insurance Company as defined in section 3(a)(19) of the Act (d) /_/ Investment Company registered under section 8 of the Investment Company Act (e) /X/ Investment Adviser registered under section 203 of the Investment Advisers Act of 1940 (f) /_/ Employee Benefit Plan, Pension Fund which is subject to the provisions of the Employee Retirement Income Security Act of 1974 or Endowment Fund (g) /_/ Parent Holding Company, in accordance with 240.13d-1(b)(ii)(G) (Note: See Item 7) SEC 1745 (2/92) Page 3 of 5 pages CUSIP No. 03814F-20-5 13G Page 4 of 5 pages (h) /_/ Group, in accordance with 240.13d-1(b)(1)(ii)(H) ITEM 4. OWNERSHIP (a) Amount Beneficially Owned: 639,350 (b) Percent of Class: 28.0% (c) Number of shares as to which such person has: (i) Sole power to vote or direct the vote: 625,200 (ii) Shared power to vote or to direct the vote: 0 (iii) Sole power to dispose or to direct the disposition of: 639,350 (iv) Shared power to dispose or to direct the dispositon of: 0 SEC 1745 (2/92) Page 4 of 5 pages CUSIP No. 03814F-20-5 13G Page 5 of 5 pages ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS /_/ Not applicable ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON. Not applicable. ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY Not applicable. ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP Not applicable. ITEM 9. NOTICE OF DISSOLUTION OF GROUP Not applicable. ITEM 10. CERTIFICATION By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired in the ordinary course of business and were not acquired for the purpose of and do not have the effect of changing or influencing the control of the issuer of such securities and were not acquired in connection with or as a participant in any transaction having such purposes or effect. SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. January 31, 2000 By /s/ Richard C. Perkins - ---------------------------------------------- (Signature) Richard C. Perkins VP/Portfolio Manager - ---------------------------------------------- (Name/Title) SEC 1745 (2/92) Page 5 of 5 pages