For the six months ended June 30, 2012, net income was $60.6 million or $1.58 per unit. This compares to net income of $17.3 million for the comparable period last year. Included in the prior year’s net income was $9.2 million of loss on debt extinguishment. EBITDA for the period was $66.8 million, compared to $49.8 million in the corresponding period in 2011. Further explanation of EBITDA, a non-GAAP financial measure, and a reconciliation of Rentech Nitrogen's EBITDA to net income have been included below in this press release.Gross profit margin was 63% for the six months ended June 30, 2012, up from 48% for the comparable period in the prior year.
Rentech Nitrogen Announces Results For Second Quarter 2012; Raises 2012 Guidance
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