LYNNFIELD, Mass. (May 12) — Tire recycler GreenMan Technologies Inc. posted a $1.4 million net loss for its first quarter of fiscal 2006 ended Dec. 31.
This compares with a $1.8 million loss for the quarter ended Dec. 31, 2004. Net sales were off 1 percent in the quarter to $5.1 million, largely because of a decrease in the company´s inbound scrap tire volume, GreenMan said in a press release.
GreenMan also said it would file with the Securities and Exchange Commission for a five-day delay in issuing the results for the second quarter and six months ended March 31, 2006.