Exhibit 99.1
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Appliance Recycling Centers of America, Inc. |
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FOR IMMEDIATE RELEASE
Appliance Recycling Centers of America to Report Fourth Quarter and Fiscal Year 2010 Results on Monday, February 28, 2011
MINNEAPOLIS—February 21, 2011—Appliance Recycling Centers of America, Inc. (NASDAQ: ARCI) today announced that it will report fourth quarter and fiscal year 2010 results after the market closes on February 28, 2011.
The Company will hold a conference call at 10:00 a.m. Central Time on Tuesday, March 1, 2011 to discuss the results for the fourth quarter and fiscal year 2010. To participate in the conference call, please dial the following number ten minutes prior to the scheduled time: 1-800-954-0650.
A replay of the conference call will be available on the Company’s website at www.arcainc.com.
About ARCA
ARCA (www.ARCAInc.com), one of the nation’s largest recyclers of major household appliances for the energy conservation programs of electric utilities, currently provides services for 150 utility programs in the U.S. and Canada. Toxic chemicals and environmentally harmful materials such as ozone-depleting refrigerants, PCBs, mercury and oil are carefully recovered in the decommissioning process for destruction or disposal, preventing them from contaminating soil, air and water resources. The Company is also the exclusive North American distributor for UNTHA Recycling Technology (URT), one of the world’s leading manufacturers of technologically advanced refrigerator recycling systems and recycling facilities for electrical household appliances and electronic scrap. Through its ApplianceSmart operation (www.appliancesmart.com), ARCA also is one of the nation’s leading retailers of special-buy household appliances, primarily those manufactured by General Electric, Electrolux and Whirlpool. These special-buy appliances, which include close-outs, factory overruns and discontinued models, typically are not integrated into the manufacturer’s normal distribution channel. ApplianceSmart sells these new appliances at a discount to full retail, offers a 100% money-back guarantee and provides warranties on parts and labor. As of February 2011, ApplianceSmart was operating 19 factory outlets: six in the Minneapolis/St. Paul market; one in the Rochester, Minn., market; four in the Columbus, Ohio, market; six in the Atlanta market; and two in San Antonio, Texas.
This press release contains statements that are forward-looking statements as defined within the Private Securities Litigation Reform Act of 1995, including statements regarding ARCA’s future success. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from the statements made, including the risks associated with general economic conditions, competition in the retail and recycling industries and regulatory risks. Other factors that could cause operating and financial results to differ are described in ARCA’s periodic