Reconditioned Systems, In (RESY.PK)

Reconditioned Systems, Inc. engages in the remanufacture and marketing of modular office workstations consisting of panels, work surfaces, file drawers, book and binder storage, and integrated electrical components. It specializes in remanufacturing and marketing workstations originally manufactured by Haworth, Inc. This remanufacturing process includes sanding, painting, laminating, and reupholstering. The company operates three remanufacturing facilities, in Arizona, Georgia, and New Mexico. It also markets new office furniture product-lines, including office chairs, desks, filing, lighting, and other office furniture accessories. The company markets is products primarily in the continental United States. The company’s retail customers range from small businesses to Fortune 500 companies. Its customer base also includes various federal, state, and local agencies; and other governmental entities.

Reconditioned Systems, Inc. reconditions and markets modular office workstations consisting of panels, work surfaces, file drawers, book and binder storage and integrated electrical components. For the 3 months ended 6/30/03, sales increased 32% to $3.3M. Net loss totaled $131K, up from $41K. Results reflect the acquisition of Beck Office Systems, offset by lower gross margins and increased interest expense.