RecycleNet Announces Second-Quarter Results
SALT LAKE CITY, UTAH, Aug. 10, 2004 — RecycleNet Corporation (OTC-BB: GARM) today announced operating results for the second quarter ended June 30, 2004.
RecycleNet (www.recycle.net), which operates the leading online trading platform for recyclable industrial materials, reported a net loss of $6,923 on net revenues of $533,667 for the second quarter, compared with a net income of $19,032 on net revenues of $581,960 for the same period of last year.
For the six months ended June 30, 2004, the Company reported net earnings of $9,187 on net revenues of $1,060,297 versus a net loss of $4,217 on total net revenues of $1,009,779 for the same period of 2003.
“Though we were disappointed by lower revenues over the quarter, we are focused on growing future opportunities through increased marketing efforts and technological improvements to our trading platform,” said Richard R. Ivanovick, CFO of RecycleNet. “Over the quarter, we attended numerous trade fairs and conventions to increase our exposure in the marketplace. We will continue to seek these and other growth opportunities for the business model.”
RecycleNet Corporation (OTC-BB: GARM) was founded in 1995 as an online trading system for recyclable materials. The Company has grown its network of trading sites to serve more than 1.5 million unique users per month, including generators, brokers, dealers, processors and consumers of recyclable materials such as glass, metal, rubber, paper, wood and plastic, along with used vehicles and equipment.
RecycleNet does not buy or sell recyclable materials; instead the Company earns fees for use of its trading network and other services. For more information about the company visit the corporate site www.recyclenet.com or Recycler’s World, the hub of its online trading network, at www.recycle.net.
For
further information contact:
Paul Roszel
RecycleNet Corporation
Tel.
(801) 531-0404
2004
News Releases
2003
News Releases
2002
News Releases
2001
News Releases
2000
News Releases
1999
News Releases
