- NSRI reports first-quarter gross profit numbers totaling more than $1.7 million; total assets approximately $34.7 million
- CEO says NSRI is prepared to meet challenges, has planned for upcoming hurricane season
- Zoning approval, already-inked deals provide National Storm Recovery with strong position heading into busy season
National Storm Recovery (OTC: NSRI), a leading provider of environmentally beneficial solutions for tree and storm waste disposal, reports first-quarter numbers totaling more than $1.7 million in gross profit and total assets reaching more than $34.7 million.
“This year’s first quarter has been extraordinary,” said NSRI CEO Tony Raynor. “We have made major upgrades at our key production facility to increase our production. We are prepared to meet the challenges and have planned accordingly for the hurricane season, the busiest season within our industry.”
The NSRI numbers, which were for the three-month period ending March 31, 2020, totaled revenues of $6,255,262; $1,728,506 of gross profit; and $34,711,993 in total assets, including $4,303,668 of cash. The report only reflected approximately two months of post-acquisition revenue from Mulch Manufacturing, which NSRI acquired in February of this year.
National Recovery Services recently received final zoning approval for its 100-acre site in Lake County, Florida, which will serve as the company’s flagship tree-debris collection site, as well as a storehouse for NSRI’s mulch manufacturing, soil composting and production bagging. In addition to the zoning approval, the company has signed three substantial agreements for the upcoming storm season, expectations of which range from above average to record breaking regarding its potential devastation (http://ibn.fm/t7wWu).
Regardless of the severity of the season, National Storm Recovery is prepared. Through its subsidiaries, including National Storm Recovery LLC, NSRI provides tree services, debris hauling, removal and biomass recycling, manufacturing, packaging and sales of next-generation mulch products.
One of the company’s primary corporate objectives is to provide a solution for the treatment and handling of tree debris, a frequent by-product of hurricanes. Historically, such tree debris is sent to local landfills and disposal sites, creating an environmental burden and pressure on disposal sites around the nation. NSRI is committed to creating synergistic and environmentally beneficial solutions to tree and storm waste disposal.
The company’s Sustainable Green Team solutions begin with the collecting of tree debris through its tree-services division and collection sites, then recycling the debris into a feedstock that is manufactured into a variety of organic mulch products that are packaged and sold to landscapers, installers and garden centers. If the impending storm season proves to be as devastating as expected, NSRI is well positioned to provide critical support to threatened communities.
To view the company’s investor presentation, visit http://ibn.fm/7NP9t
For more information, visit the company’s website at www.CentralFloridaArborCare.com/storm-recovery.
NOTE TO INVESTORS: The latest news and updates relating to NSRI are available in the company’s newsroom at http://ibn.fm/NSRI