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
TheStreet Open House

Rentech Reports Results For Third Quarter 2012

Commenting on results for the period, D. Hunt Ramsbottom, President and CEO of Rentech, said, “The strong results we reported this quarter reflect high margins and prices in our nitrogen products manufacturing segment and reduced R&D expenses in our alternative energy segment.” Mr. Ramsbottom continued, “To increase shareholder value at Rentech we are further reducing R&D expenses, moving to commercialize our technologies with partners and invest in energy-related businesses with conventional technologies and good returns, and expanding Rentech Nitrogen through growth and acquisitions. The recent acquisition of Agrifos is one example of our execution of this strategy. We’re confident that this accretive acquisition and the diversification and risk reduction benefits it brings to Rentech Nitrogen will enhance the value of our fertilizer business, which directly benefits Rentech’s shareholders.”

Consolidated selling, general and administrative (SG&A) expenses were $12.1 million for the three months ended September 30, 2012, compared to $4.4 million for the comparable period in the prior year. Current period SG&A expenses were comprised of $6.6 million for the alternative energy business and $5.5 million for the nitrogen fertilizer business, compared to $2.7 million and $1.8 million, respectively, for the prior-year period. The increase in SG&A expenses for the alternative energy segment was primarily attributable to an increase in non-cash compensation expense of $3.0 million, an increase that was mainly due to a $2.2 million reversal of previously accrued non-cash compensation expense in the 2011 period for grants related to milestones associated with projects that were terminated; cash SG&A expenses for the alternative energy segment increased by $0.9 million. The $3.7 million increase in SG&A expenses for the nitrogen products manufacturing segment was primarily due to business development expenses, including costs of $1.7 million relating to the Agrifos acquisition. Also contributing to the increase were costs associated with having become a publicly traded limited partnership, including an increase of $1.1 million in non-cash unit-based compensation expense.

3 of 8

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

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.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,159.93 +128.79 0.76%
S&P 500 2,001.17 +17.04 0.86%
NASDAQ 4,550.9590 +32.0570 0.71%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs