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Green Plains Renewable Energy, Inc. Reports Fourth Quarter And Full-Year 2010 Financial Results

Results for the Fourth Quarter of 2010

  • Net income of $16.4 million
  • Diluted earnings per share of $0.44

Results for the Full-Year of 2010

  • Net income of $48.0 million
  • Diluted earnings per share of $1.51

OMAHA, Neb., March 2, 2011 (GLOBE NEWSWIRE) -- Green Plains Renewable Energy, Inc. (Nasdaq:GPRE) announced today its financial results for the fourth quarter and full-year ended December 31, 2010. Net income attributable to Green Plains for the full year of 2010 was $48.0 million, or $1.51 per diluted share, compared to $19.8 million or $0.79 per diluted share in 2009. Revenues were $2.1 billion for the year ended December 31, 2010, compared to $1.3 billion in 2009.

For the fourth quarter of 2010, net income attributable to Green Plains was $16.4 million, or $0.44 per diluted share, compared to $23.1 million, or $0.91 per diluted share, for the same period of 2009. Revenues were $756.8 million for the fourth quarter of 2010 compared to $436.7 million for the same period of 2009. Weighted average shares outstanding for diluted earnings per share purposes for the fourth quarter and full-year of 2010 reflect additional shares outstanding under the as-if-converted method of accounting for the $90 million convertible debt issued in the fourth quarter of 2010.

"We completed 2010 with a strong fourth quarter. Systematic improvements to our production processes combined with immediate benefits realized from the execution of our growth strategy produced excellent financial results," said Todd Becker, President and Chief Executive Officer. "We generated substantial growth in profitability in 2010 compared with 2009, with an increase in income before tax of more than 200 percent. We are focused on continuing to profitably grow each of our businesses in the future," Becker added.

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