GlyEco, Inc. announced earnings results for the third quarter and nine months ended September 30, 2014. For the third quarter ended September 30, 2014, revenue increased 10% to $1.3 million, compared to $1.2 million for the year-ago period. The increase in revenue was due to increased production capabilities and corresponding sales from new facilities added in 2013. The Company realized a profit margin of (15%), compared to (3%) for the year-ago period. The decrease in gross profit was primarily due to continued operating costs and increased investment in staffing, quality control, and other related expenses in preparation for the New Jersey Processing Center to transition to producing high volumes of T1TM material from multiple types of waste glycols.

Net sales for the nine-months ended September 30 increased 19% to $4.5 million, as compared to $3.8 million for the same period 2013.