-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, P1XWL2+2Stg+oyMTwyWIqFjKRIGsCaVscfuKJXwQh5gY8aRvJJMNGfHt77s2PVb6 sVoKPMa/9fWqSK85EGk4Fw== 0000897101-03-000205.txt : 20030318 0000897101-03-000205.hdr.sgml : 20030318 20030318170825 ACCESSION NUMBER: 0000897101-03-000205 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20030318 ITEM INFORMATION: Other events ITEM INFORMATION: Financial statements and exhibits FILED AS OF DATE: 20030318 FILER: COMPANY DATA: COMPANY CONFORMED NAME: APPLIANCE RECYCLING CENTERS OF AMERICA INC /MN CENTRAL INDEX KEY: 0000862861 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-HOME FURNITURE, FURNISHINGS & EQUIPMENT STORES [5700] IRS NUMBER: 411454591 STATE OF INCORPORATION: MN FISCAL YEAR END: 0103 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-19621 FILM NUMBER: 03608119 BUSINESS ADDRESS: STREET 1: 7400 EXCELSIOR BLVD CITY: MINNEAPOLIS STATE: MN ZIP: 55426-4502 BUSINESS PHONE: 6129309000 MAIL ADDRESS: STREET 1: 7400 EXCELSIOR BLVD CITY: NINNEAPOLIS STATE: MN ZIP: 554264517 8-K 1 arca031343_8k.txt APPLIANCE RECYCLING CTRS OF AMER, INC. FORM 8K SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of Report: March 18, 2003 -------------- (Date of earliest event reported) APPLIANCE RECYCLING CENTERS OF AMERICA, INC. - -------------------------------------------------------------------------------- (Exact name of registrant as specified in its charter) MINNESOTA 000-19621 41-1454591 - ------------------------------- ---------- ------------------- (State or other jurisdiction of Commission (I.R.S. Employer incorporation or organization) File No. Identification No.) 7400 EXCELSIOR BOULEVARD MINNEAPOLIS, MN 55426-4517 - ---------------------------------------- ------------------- (Address of principal executive offices) (952) 930-9000 - -------------------------------------------------------------------------------- (Registrant's telephone number, including area code) Item 5. Other Events. - ------ ------------- On March 11, 2003, Appliance Recycling Centers of America, Inc. issued a press release announcing that its previously reported net loss of $0.24 per diluted share for the fourth quarter of 2002 ended December 28 was incorrectly calculated. The Company's actual net loss for this period was $0.31 per diluted share. As a result of this change, the Company's net income for 2002 is $0.11 per diluted share, not the previously reported $.10 per diluted share. A copy of the press release is attached as an exhibit to this filing on Form 8-K. Item 7(c). Exhibits. - ---------- -------- 99 Press Release dated March 11, 2003, announcing its corrected net loss for 2002 fourth quarter. Date: March 18, 2003 /s/ Linda Koenig -------------------------------------------- Linda Koenig, Vice President of Finance EX-99 3 arca031343_ex-99.txt PRESS RELEASE EXHIBIT 99 [LOGO] ARCA Appliance Recycling Centers of America, Inc. INCORPORATED 7400 Excelsior Boulevard, Minneapolis MN 55426 (952) 930-9000 FOR IMMEDIATE RELEASE FOR MORE INFORMATION CONTACT: Edward R. (Jack) Cameron (952) 930-9000 Richard G. Cinquina, Equity Market Partners (612) 338-0810 APPLIANCE RECYCLING CENTERS OF AMERICA, INC. REPORTS CORRECTED NET LOSS FOR 2002 FOURTH QUARTER MARCH 11, 2003--MINNEAPOLIS, MN--Appliance Recycling Centers of America, Inc. (OTC BB: ARCI) today said that its previously reported net loss of $0.24 per diluted share for the fourth quarter of 2002 ended December 28 was incorrectly calculated. The Company's actual net loss for this period was $0.31 per diluted share. As a result of this change, the Company's net income for 2002 is $0.11 per diluted share, not the previously reported $.10 per diluted share. ABOUT ARCA Through its ApplianceSmart (www.ApplianceSmart.com) operation, ARCA is one of the nation's leading retailers of special-buy household appliances, primarily those manufactured by Whirlpool Corporation, Maytag Corporation and GE. These special-buy appliances, which include close-outs, factory overruns and scratch-and-dent units, typically are not integrated into the manufacturer's normal distribution channel. ApplianceSmart sells these virtually new appliances at a discount to full retail, offers a 100% money-back guarantee and provides warranties on parts and labor. As of February 2003, ApplianceSmart was operating nine factory outlets: four in the Minneapolis/St. Paul market; three in the Columbus, Ohio, market; one in the Dayton, Ohio, market; and one in Los Angeles. ARCA is also one of the nation's largest recyclers of major household appliances for the energy conservation programs of electric utilities. # # # - -------------------------------------------------------------------------------- Statements about ARCA's outlook are forward-looking and involve risks and uncertainties, including but not limited to: the strength of recycling programs, the growth of appliance retail sales, the speed at which individual retail stores reach profitability, and other factors discussed in the Company's filings with the Securities and Exchange Commission. - -------------------------------------------------------------------------------- Visit our web site at www.arcainc.com --------------- -----END PRIVACY-ENHANCED MESSAGE-----