GreenMan Technologies Reports 2005 Financials

Company logs loss of more than $15 million.

Published April 11, 2006

Scrap tire recycler GreenMan Technologies, Lynnfield, Mass., has announced its financials for the year ended Sept. 30, 2005.

 

According to GreenMan CFO Chuck Coppa, the company recorded an aggregate net loss of between $15.2 million. In fiscal year 2004, GreenMan reported a net loss of $2.6 million. The majority of GreenMan’s net loss in fiscal year 2005 can be attributed to the discontinuation of operations in Georgia and Tennessee, which cost the company more than $11 million.

 

GreenMan will hold a conference call April 20 to go over financials for the year ended Sept. 30, 2005, and for the quarter ended Dec. 31, 2005. The company will also provide information about the actions it is taking to quicken its financial turnaround. Those interested in participating can call (800) 946-0782 and ask for the GreenMan call. 

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