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Rentech Reports Results For Second Quarter 2012

The table below reconciles EBITDA to net income for our nitrogen products manufacturing segment for the three and six months ended June 30, 2012 and 2011 (stated in thousand).

 
      Three Months       Six Months
Ended June 30, Ended June 30,
2012       2011 2012       2011
Net income $ 41,228       $ 13,757 $ 60,601       $ 17,290
Add:
Interest income (14 ) (10 ) (30 ) (27 )
Interest expense 42 3,280 142 6,319
Loss on debt extinguishment 9,223 9,223
Loss on interest rate swaps 580 580
Income tax expense 9,620 12,090
Depreciation and amortization 3,312 3,431 5,777 4,905
Other   (232 )   12     (232 )   (1 )
EBITDA $ 44,916   $ 39,313   $ 66,838   $ 49,799  
 

About Rentech, Inc.

Rentech, Inc. ( www.rentechinc.com) owns and develops technologies that enable the production of certified synthetic fuels and renewable power when integrated with certain other third-party technologies. The Company’s clean energy technology portfolio includes the Rentech-SilvaGas biomass gasification technology and the Rentech-ClearFuels biomass gasification technology, both of which can produce synthesis gas from biomass and waste materials for production of renewable power and fuels. The Rentech-ClearFuels Gasifier can also produce renewable hydrogen as a product. Rentech also owns the patented Rentech Process which is based on Fischer-Tropsch chemistry. The Rentech Process can convert syngas from the Company’s own or other gasification technologies into complex hydrocarbons that then can be upgraded into fuels or chemicals using refining technology that we license.

Rentech also owns, through its wholly owned subsidiaries, the general partner interest and approximately 61% of the common units representing limited partner interests in Rentech Nitrogen Partners, L.P. ( www.rentechnitrogen.com), a publicly traded limited partnership. Rentech Nitrogen Partners, L.P. manufactures and sells nitrogen fertilizer products including ammonia, urea ammonium nitrate and liquid and granular urea in the Mid Corn Belt region of the United States.

Safe Harbor Statement

This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995 about matters such as: the forecasted cash spend for the alternative energy segment; and the outlook for both our energy and nitrogen fertilizer businesses. These statements are based on management’s current expectations and actual results may differ materially as a result of various risks and uncertainties. Other factors that could cause actual results to differ from those reflected in the forward-looking statements are set forth in the Company’s prior press releases and periodic public filings with the Securities and Exchange Commission, which are available via Rentech’s website at www.rentechinc.com. The forward-looking statements in this press release are made as of the date of this press release and Rentech does not undertake to revise or update these forward-looking statements, except to the extent that it is required to do so under applicable law.



Stock quotes in this article: RNF, RTK 

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