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15. August 2007

GreenMan reports first profitable quarter in nearly five years

SAVAGE, Minnesota - Continuing its long-term turnaround plan, tire recycler GreenMan Technologies Inc. has reported its first profitable quarter in 19 quarters, according to company President Lyle Jensen and Chuck Coppa, the chief financial officer of the company.

Net income for the third quarter ended June 30 was USD313, 000 compared with a loss of USD981,000 for the same period a year ago. Net sales for the quarter totaled USD5.3 million, up 13 percent from the USD4.7 million from the third quarter of 2006.

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