Greystone Releases Financial Results

Plastic pallet manufacturer Greystone Logistics, Inc. reported sales for the nine months ended February 28, 2015 of $13,676,492 compared to $15,405,169 for the prior comparable. Sales for the three months ended February 28, 2015 were $3,685,044 compared to $4,532,762 for the prior period. For the nine-month and three-month periods ended February 28, 2015, the company reported net income of $31,437 and $336,816, respectively, compared to net income (loss) of $1,474,078 and $(98,076), respectively, for the prior periods.

 “While the company’s sales lagged for the reporting periods, the outlook for the fourth quarter is very promising with the fulfillment of orders for our seasonal customers and business from new customers.” stated Warren Kruger, CEO of Greystone Logistics. “‘We are excited about the future of the new slim-keg pallet, the versatile-new 48X40MVP pallet and our 37X37 beverage pallet as these pallets are testing extremely well.”

“Our entire organization is committed to the Company’s goals, producing results that are in line with the expectations laid out in our business plan and continuing to build value for our shareholders,” Kruger added. “The diligence and patience exhibited while working through an extended series of challenges and opportunities will be rewarded. Plastic pallets are more frequently being recognized as a necessity rather than a luxury and our 100 percent recycled plastic products help the environment while providing sustainable money saving solutions. Growth is coming from a broad range of products and new product designs with concentrations in the beverage, agriculture, and pharmaceutical industries.”

Greystone Logistics reprocesses and sells recycled plastic in addition to the design, manufactures, and sale of high quality 100  percent recycled plastic pallets that provide logistical solutions needed by a wide range of industries such as the food and beverage, automotive, chemical, pharmaceutical and consumer products.