Rentech, Inc. (NYSE AMEX: RTK) today announced its results for the three months ended December 31, 2011.
Rentech owns and develops technologies that enable the production of certified synthetic fuels, renewable power and hydrogen. The Company also manages and owns a majority of Rentech Nitrogen Partners, L.P. (NYSE: RNF) which operates a nitrogen fertilizer plant in East Dubuque, IL.
Rentech’s financial results reflect the consolidated results of its alternative energy business and those of Rentech Nitrogen.
As of December 31, 2011, Rentech had consolidated cash of $237.5 million, of which $44.8 million was held at Rentech Nitrogen.For the three months ended December 31, 2011, Rentech reported a consolidated net loss of $8.5 million or $0.04 per share. Rentech generated consolidated net income of $1.7 million or $0.01 per share during the period excluding $10.3 million of loss on extinguishment of debt incurred during the period. This compares to a net loss of $5.5 million or $0.02 per share reported in the comparable period in the prior year, or a net loss of $0.9 million or $0.00 per share excluding $4.6 million of loss on extinguishment of debt incurred during the prior year period. Further explanation of net income excluding non-recurring items, a non-GAAP financial measure, and a reconciliation of consolidated net income excluding non-recurring items to net income have been included below in this press release. During the three months ended December 31, 2011, Rentech Nitrogen generated operating income of $22.6 million as compared to $14.6 million during the comparable period in the prior year. Rentech Nitrogen generated $25.9 million of EBITDA for the period, as compared to $17.2 million in the corresponding period in 2010. Further explanation of EBITDA, a non-GAAP financial measure, and a reconciliation of Rentech Nitrogen's EBITDA to operating income has been included below in this press release.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV