SAVAGE, Minn. (Aug. 16) — Tire recycler GreenMan Technologies Inc. had lower sales but smaller losses for the third quarter and first nine months of its fiscal 2006, the company reported.
Lower volumes of incoming scrap tires for processing were offset by the closure of unprofitable operations, the company said.
A net loss for the quarter ended June 30 was $982,000 on sales of $5.5 million, compared with a loss of $1.8 million on sales of $5.8 million for the same period a year before. For the nine months, the firm was $3.7 million in the red on sales of $14.5 million, compared with a loss of $5.5 million on sales of $15.7 million a year earlier.