Rentech Nitrogen Partners, L.P. (NYSE: RNF) today announced its results for the three months ended December 31, 2011.
Rentech Nitrogen Partners, L.P. (Rentech Nitrogen), located in East Dubuque, IL, manufactures and sells nitrogen fertilizer products including ammonia, urea ammonia nitrate (UAN) and liquid and granular urea in the Mid Corn Belt region of the United States.
For the three months ended December 31, 2011, Rentech Nitrogen generated net income of $10.5 million, which included $10.3 million of loss on extinguishment of debt. This compares to net income of $4.3 million for the three months ended December 31, 2010, which included $4.6 million of loss on extinguishment of debt.
Rentech Nitrogen generated net income subsequent to its initial public offering (November 9, 2011 through December 31, 2011) of $11.3 million or $0.30 per common unit. Excluding loss on extinguishment of debt, net income for the same period was $21.6 million or $0.56 per common unit. 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 three months ended December 31, 2011, as compared to $17.2 million in the comparable period in the prior year. Further explanation of EBITDA, a non-GAAP financial measure, and a reconciliation of Rentech Nitrogen’s EBITDA to operating income have been included below in this press release. Rentech Nitrogen completed a scheduled bi-annual plant turnaround in the fall of 2011 which included approximately 15.5 days of plant downtime in October 2011. This reduced EBITDA during the three months ended December 31, 2011, due to lost production and $3.0 million in turnaround expenses.
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