This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Rentech Reports Results For The First Quarter Of 2012

Rentech, Inc. (NYSE AMEX: RTK) today announced its results for the three months ended March 31, 2012. Rentech owns and develops technologies that enable the production of certified synthetic fuels, renewable power and hydrogen. The Company also owns the general partner interest and a majority of the common units 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 Rentech, Inc. and its subsidiaries, including Rentech Nitrogen. The results of Rentech Nitrogen are reported as the nitrogen products manufacturing segment of Rentech.

Consolidated revenues for the three months ended March 31, 2012 were $38.6 million, as compared to $24.0 million for the comparable period last year. Revenues were derived almost entirely from sales of nitrogen fertilizer products through Rentech Nitrogen.

Consolidated operating income for the three months ended March 31, 2012 was $6.6 million, compared to an operating loss of $4.4 million for the comparable period last year. During the three months ended March 31, 2012, Rentech’s nitrogen products manufacturing segment generated operating income of $19.5 million, compared to $9.0 million during the comparable period in the prior year. EBITDA for Rentech’s nitrogen products manufacturing segment was $21.9 million for the period, compared to $10.5 million in the corresponding period in 2011. Further explanation of EBITDA, a non-GAAP financial measure, and a reconciliation of EBITDA to operating income for Rentech’s nitrogen products manufacturing segment have been included below in this press release.

For the three months ended March 31, 2012, Rentech reported a consolidated net loss of $3.3 million, or $0.01 per share. This compares to a net loss of $7.6 million, or $0.03 per share, reported in the comparable period in the prior year.

Commenting on results for the period, D. Hunt Ramsbottom, President and CEO of Rentech, said, “Our nitrogen fertilizer business had exceptionally strong first quarter results which were driven by an early spring application window, strong product pricing and low natural gas prices. We took advantage of this environment and ran the plant at a 100% on-stream rate. Based on current market conditions, we have an optimistic view of the year, with margins holding strong.” Mr. Ramsbottom continued, “On the alternative energy side of our business, we are enhancing our liquidity position through cost reduction initiatives, and pursuing investment opportunities that would generate an underlying cash flowing business with attractive returns.”

1 of 5

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 17,751.39 +121.12 0.69%
S&P 500 2,108.57 +15.32 0.73%
NASDAQ 5,111.7330 +22.5270 0.44%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs