Echo Environmental is based in a massive processing facility in Carrollton, Texas, which is a suburb of Dallas. | Google Streetview[/caption]
Strong commodity markets, a booming device resale business and a couple of acquisitions drove profitability for a group of southwestern U.S. electronics processors last year.
Echo Consolidated Holding Group (ECHG) recently reported its financial results for 2021, noting higher revenues and profits in the resale and recycling businesses.
ECHG is made up of the following companies: e-scrap processor Echo Environmental, ITAD companies Avail Recovery Solutions and ITAD USA, device reseller Teladvance, and mobile phone trade-in firm CExchange. All are based in Carrollton, Texas, except for Avail Recovery Solutions, which is located in Chandler, Ariz.
ECHG reported total revenue of $44.2 million in 2021, up 56% from the year before. The company's gross profit was $18.6 million, up 47% year over year. The profit margin was 42.1%, down from 44.9% in 2020.
However, it's important to note that acquisitions also contributed to the higher 2021 figures. Envela, the parent company of ECHG, acquired Avail Recovery Solutions on Nov. 1, 2021, after acquiring CExchange earlier in the year, on June 9, 2021. Envela bought Avail for $4.5 million, purchased with an initial $2.5 million payment followed by 12 quarterly payments of nearly $167,000 each, according to the company's annual report.
ECHG is one of two operating segments of publicly traded company Envela. The other is Dallas Gold and Silver Exchange (DGSE), which has companies involved with buying and selling jewelry, gems, precious metals and other luxury goods.
[caption id="attachment_18127" align="aligncenter" width="900"] Echo Environmental is based in a massive processing facility in Carrollton, Texas, which is a suburb of Dallas. | Google Streetview[/caption]
Strong commodity markets, a booming device resale business and a couple of acquisitions drove profitability for a group of southwestern U.S. electronics processors last year.
Echo Consolidated Holding Group (ECHG) recently reported its financial results for 2021, noting higher revenues and profits in the resale and recycling businesses.
ECHG is made up of the following companies: e-scrap processor Echo Environmental, ITAD companies Avail Recovery Solutions and ITAD USA, device reseller Teladvance, and mobile phone trade-in firm CExchange. All are based in Carrollton, Texas, except for Avail Recovery Solutions, which is located in Chandler, Ariz.
ECHG reported total revenue of $44.2 million in 2021, up 56% from the year before. The company's gross profit was $18.6 million, up 47% year over year. The profit margin was 42.1%, down from 44.9% in 2020.
However, it's important to note that acquisitions also contributed to the higher 2021 figures. Envela, the parent company of ECHG, acquired Avail Recovery Solutions on Nov. 1, 2021, after acquiring CExchange earlier in the year, on June 9, 2021. Envela bought Avail for $4.5 million, purchased with an initial $2.5 million payment followed by 12 quarterly payments of nearly $167,000 each, according to the company's annual report.
ECHG is one of two operating segments of publicly traded company Envela. The other is Dallas Gold and Silver Exchange (DGSE), which has companies involved with buying and selling jewelry, gems, precious metals and other luxury goods.
Echo Environmental is based in a massive processing facility in Carrollton, Texas, which is a suburb of Dallas. | Google Streetview[/caption]
Strong commodity markets, a booming device resale business and a couple of acquisitions drove profitability for a group of southwestern U.S. electronics processors last year.
Echo Consolidated Holding Group (ECHG) recently reported its financial results for 2021, noting higher revenues and profits in the resale and recycling businesses.
ECHG is made up of the following companies: e-scrap processor Echo Environmental, ITAD companies Avail Recovery Solutions and ITAD USA, device reseller Teladvance, and mobile phone trade-in firm CExchange. All are based in Carrollton, Texas, except for Avail Recovery Solutions, which is located in Chandler, Ariz.
ECHG reported total revenue of $44.2 million in 2021, up 56% from the year before. The company's gross profit was $18.6 million, up 47% year over year. The profit margin was 42.1%, down from 44.9% in 2020.
However, it's important to note that acquisitions also contributed to the higher 2021 figures. Envela, the parent company of ECHG, acquired Avail Recovery Solutions on Nov. 1, 2021, after acquiring CExchange earlier in the year, on June 9, 2021. Envela bought Avail for $4.5 million, purchased with an initial $2.5 million payment followed by 12 quarterly payments of nearly $167,000 each, according to the company's annual report.
ECHG is one of two operating segments of publicly traded company Envela. The other is Dallas Gold and Silver Exchange (DGSE), which has companies involved with buying and selling jewelry, gems, precious metals and other luxury goods.
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