Appliance Recycling expects continued profitability following cost reductions
Appliance Recycling announces that management anticipates increased profitability following recent corporate-wide efforts to reduce costs and streamline operations. The company recently launched an initiative to increase productivity and streamline operations, which management believes will result in increased profitability. As part of this initiative, management conducted an extensive audit of current costs to determine areas where cuts could be enacted, which led to an 18 percent reduction in overhead costs, which the company recently reported for the quarter ending July 1, 2017. In addition, several areas were identified where systems could be streamlined. The result was a significant cost savings that management believes will garner continued profitability going forward. This initiative is expected to continue in the coming quarters.