“Until the EPA issues a final rule, there will be uncertainty in the market as to future supplies of virgin R-22. The issuance of a final rule from EPA would provide a level of certainty, at least as to the available supply of virgin R22 through 2014, that we believe the industry needs to plan for and assess the future virgin supply available to serve the refrigerant aftermarket. From our perspective, there has been strong refrigerant demand during this year’s cooling season. We expect that such strong demand, coupled with a clearly defined final rule on future reductions in available virgin supply, will further support the supply/demand imbalance which, along with existing price increases in R-22, should positively impact the market opportunities for our R-22 reclamation business.
“This was a very strong quarter for our Company and we remain confident that we are well positioned to take advantage of the ongoing opportunities related to the R-22 phase down and the ultimate phase out of virgin production and the benefits that we anticipate can be derived from a vibrant reclamation market.”
CONFERENCE CALL INFORMATION
The Company will host a conference call to discuss the first quarter results today, August 2, 2012 at 10:00 A.M. Eastern Time.To access the live webcast log onto the Hudson Technologies website at www.hudsontech.com and click on “Investor Relations”. To participate in the call by phone, dial (877) 407-9205 approximately five minutes prior to the scheduled start time. International callers please dial (201) 689-8054. A replay of the webcast will be available until September 1, 2012 and may be accessed by dialing (877) 660-6853 and international callers may dial (201) 612-7415. Callers should use account number 286 and pass code 397607. A transcript of the call will be available on the Hudson Technologies website approximately 24 hours after its completion.