UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No.__9__)*
Appliance Recycling Centers of America, Inc.
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(Name of Issuer)
Common Stock
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(Title of Class of Securities)
03814F-20-5
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(CUSIP Number)
February 28, 1999
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(Date of event which requires filing of this statement)
Check the appropriate box to designate the rule pursuant to which this
Schedule is filed:
/X/ Rule 13d-1(b)
/_/ Rule 13d-1(c)
/_/ Rule 13d-1(d)
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB control number.
SEC 1745 (2/92) Page 1 of 7 pages
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CUSIP No. 03814F-20-5 13G Page 2 of 7 pages
1 NAME OF REPORTING PERSON
S.S. OR IRS IDENTIFICATION NO. OF ABOVE PERSON
Perkins Capital Management, Inc.
IRS ID No.: 41-1501962
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) /_/
(b) /_/
3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OF ORGANIZATION
730 East Lake Street, Wayzata, MN 55391-1769
5 SOLE VOTING POWER
NUMBER OF 632,575
6 SHARED VOTING POWER
SHARES 0
BENEFICIALLY
OWNED BY 7 SOLE DISPOSITIVE POWER
641,288
EACH
REPORTING
PERSON 8 SHARED DISPOSITIVE POWER
0
WITH
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
557,788
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* /_/
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
24.4%
12 TYPE OF REPORTING PERSON*
IA
SEC 1745 (2/92) Page 2 of 7 pages
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CUSIP No. 03814F-20-5 13G Page 3 of 7 pages
1. NAME OF REPORTING PERSON
S.S. OR I.R.S IDENTIFICATION NO. OF THE ABOVE PERSON
The Perkins Opportunity Fund
13-3682185
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP *
(a) /_/
(b) /_/
3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
A Massachusetts Business Trust
NUMBER OF 5. SOLE VOTING POWER
0 (Refer to page two of seven, item five)
SHARES
6. SHARED VOTING POWER
BENEFICIALLY 0
OWNED BY EACH 7. SOLE DISPOSITIVE POWER
0 (Refer to page two of seven, item seven)
REPORTING
8. SHARED DISPOSITIVE POWER
PERSON WITH 0
9. AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
87,500
10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES *
/_/
11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
3.9%
12. TYPE OF REPORTING PERSON *
IV
SEC 1745 (2/92) Page 3 of 7 pages
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CUSIP No. 03814F-20-5 13G Page 4 of 7 pages
ITEM 1.
(a) Name of Issuer
Appliance Recycling Centers of America, Inc.
(b) Address of Issuer's Principal Executive Offices
7400 Excelsior Blvd., Minneapolis, MN 55426
ITEM 2.
(a) Name of Persons Filing
Perkins Capital Management, Inc., a Minnesota Corporation
The Perkins Opportunity Fund, a Massachusetts Business Trust
(b) Address of Principal Business Office or, if none, Residence
730 East Lake Street, Wayzata, MN 55391-1769
(c) Citizenship
A Minnesota Corporation
A Massachusetts Business Trust
(d) Title of Class of Securities
Common
(e) CUSIP Number
03814F-20-5
ITEM 3. If this statement is filed pursuant to Rule 13d-1(b), or 13d-2(b),
check whether the person filing is a:
(a) /_/ Broker or a Dealer registered under Section 15 of the Act
(b) /_/ Bank as defined in section 3(a)(6) of the Act
(c) /_/ Insurance Company as defined in section 3(a)(19) of the Act
(d) /X/ Investment Company registered under section 8 of the
Investment Company Act
(e) /X/ Investment Adviser registered under section 203 of the
Investment Advisers Act of 1940
(f) /_/ Employee Benefit Plan, Pension Fund which is subject to the
provisions of the Employee Retirement Income Security Act of
1974 or Endowment Fund
(g) /_/ Parent Holding Company, in accordance with 240.13d-1(b)(ii)(G)
(Note: See Item 7)
SEC 1745 (2/92) Page 4 of 7 pages
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CUSIP No. 03814F-20-5 13G Page 5 of 7 pages
(h) /_/ Group, in accordance with 240.13d-1(b)(1)(ii)(H)
ITEM 4. OWNERSHIP
(a) Amount Beneficially Owned:
The total amount reported on is 641,288 common equivalents. Perkins
Capital Management, Inc. holds 553,788 common equivalents for
various clients. The Perkins Opportunity Fund holds 87,500 shares
of common equivalents. Perkins Capital Management, Inc. disclaims
beneficial ownership in the Perkins Opportunity Fund shares.
(b) Percent of Class:
The total percent held is 28.3%, which includes 24.4% held by clients
of Perkins Capital Management, Inc. and 3.9% held in the Perkins
Opportunity Fund.
(c) Number of shares as to which such person has:
(i) Sole power to vote or direct the vote:
Perkins Capital Management, Inc. has the sole power to vote
632,575 common equivalents, which includes the 87,500
common equivalents owned by the Perkins Opportunity Fund.
(ii) Shared power to vote or to direct the vote:
There are zero shares with shared power to vote or to direct
the vote.
(iii) Sole power to dispose or to direct the disposition of:
Perkins Capital Management, Inc. has sole power to dispose
of 641,288 common equivalents, which includes 87,500 common
equivalents held by the Perkins Opportunity Fund.
(iv) Shared power to dispose or to direct the dispositon of:
There are zero shares with shared power to dispose or to
direct the disposition.
SEC 1745 (2/92) Page 5 of 7 pages
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CUSIP No. 03814F-20-5 13G Page 6 of 7 pages
ITEM 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS /X/
The Perkins Opportunity Fund reduced its' holdings to 3.9% of the
outstanding shares. Other clients of Perkins Capital Management, Inc.
hold 24.4% of the outstanding shares. The aggregate of the two
amounts is 28.3%, which will be consolidated onto a singular filing
for Perkins Capital Management, Inc. in the future.
ITEM 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON.
Not applicable.
ITEM 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED
THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY
Not applicable.
ITEM 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP
Not applicable.
ITEM 9. NOTICE OF DISSOLUTION OF GROUP
Not applicable.
ITEM 10. CERTIFICATION
By signing below I certify that, to the best of my knowledge and belief,
the securities referred to above were acquired in the ordinary course of
business and were not acquired for the purpose of and do not have the
effect of changing or influencing the control of the issuer of such
securities and were not acquired in connection with or as a participant in
any transaction having such purposes or effect.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete
and correct.
March 10, 1999
By /s/ Richard C. Perkins
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(Signature)
Richard C. Perkins VP/Portfolio Manager
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(Name/Title)
SEC 1745 (2/92) Page 6 of 7 pages
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CUSIP No. 03814F-20-5 13G Page 7 of 7 pages
JOINT FILING AGREEMENT PURSUANT TO RULE 13d-1(f)(1)
This agreement is made pursuant to Rule 13d-1(f)(1) under the Securities
Exchange Act of 1934 (the "ACT") by and among the parties listed below, each
referred to herein as a "Joint Filer". The Joint Filers agree that a
statement of beneficial ownership as required by Section 13(d) of the ACT
and the Rules thereunder may be filed on each of their behalf on Schedule
13D or Schedule 13G as appropriate and that said joint filing may thereafter
be amended by further joint filings. The Joint Filers state that to the best
of their knowledge and belief they each satisfy the requirements for making
a joint filing under Rule 13d-1.
March 10, 1999
/s/ Richard C. Perkins /s/ Steven J. Paggioli
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Perkins Capital Management, Inc. Perkins Opportunity Fund Series
Richard C. Perkins Professionally Managed Portfolio
VP/Portfolio Manager Steven J. Paggioli
