SAVAGE, Minn. (Feb. 21, 2008) — Tire recycler GreenMan Technologies Inc. has reported its third consecutive profitable quarter, at the same time reporting a 20-percent increase in its net sales.
GreenMan's net income after taxes for the first quarter of fiscal 2008, ended Dec. 31, was $18,000, compared with a $9,000 net loss for the year-earlier quarter. Net sales between the quarters also rose to $5.9 million from $4.9 million.
GreenMan CEO Lyle Jensen credited the Savage-based company's move into the high-value-added playground surfacing business for the improved financial showing.