In its press release dated November 8, 2012, Rentech Nitrogen reiterated its guidance for the twelve months ending December 31, 2012. The partnership also provided an updated outlook for 2013.
Cash Distributions from Rentech Nitrogen
Rentech Nitrogen declared its third quarter cash distribution of $0.85 per unit, payable on November 14, 2012 to unit holders of record as of November 7. Rentech will receive approximately $19.8 million in third quarter cash distributions from Rentech Nitrogen, based on its ownership of 23.25 million units of the partnership as of the record date.
Conference Call with ManagementThe Company will hold a conference call today, November 8, 2012, at 11:00 a.m. PST, during which time Rentech's senior management will review the Company's financial results for this period and provide an update on corporate developments. Callers may listen to the live presentation, which will be followed by a question and answer segment, by dialing 800-272-0419 or 303-223-4370. An audio webcast of the call will be available at www.rentechinc.com within the Investor Relations portion of the site under the Presentations section. A replay will be available by audio webcast and teleconference from 1:00 p.m. PST on November 8 through 1:00 p.m. PST on November 15. The replay teleconference will be available by dialing 800-633-8284 or 402-977-9140 and the reservation number 21607164.
|Rentech, Inc. and Subsidiaries Consolidated Statements of Operations (Stated in Thousands, Except per Share Data)|
|For the Three Months||For the Nine Months|
|Ended September 30,||Ended September 30,|
|Cost of Sales||25,130||25,800||66,134||76,600|
|Selling, general and administrative expense||12,058||4,409||33,832||20,318|
|Research and development||5,563||10,223||14,675||24,582|
|Depreciation and amortization||670||546||2,486||1,652|
|Loss on impairments||-||58,689||-||58,689|
|Advance for equity investment||-||(7,892||)||-||(7,892||)|
|Operating Income (Loss)||16,604||(53,749||)||52,630||(37,423||)|
|Other Income (Expense), Net|
|Interest and dividend income||70||31||196||89|
|Loss on debt extinguishment||-||-||-||(9,223||)|
|Loss on interest rate swaps||(327||)||-||(907||)||-|
|Other income (expense), net||(8||)||(5||)||59||(1||)|
|Total Other Expenses, Net||(1,093||)||(5,354||)||(5,940||)||(22,071||)|
|Income (loss) before income taxes||15,511||(59,103||)||46,690||(59,494||)|
|Income tax expense||68||4||1,243||4|
|Income (loss) from continuing operations||15,443||(59,107||)||45,447||(59,498||)|
|Income from discontinued operations, net of tax||134||-||134||-|
|Net Income (Loss)||15,577||(59,107||)||45,581||(59,498||)|
|Net (income) loss attributable to noncontrolling interests||(11,307||)||19||(35,056||)||733|
|Net Income (Loss) Attributable to Rentech||$||4,270||$||(59,088||)||$||10,525||$||(58,765||)|
|Net Income (Loss) per Common Share Attributed to Rentech:|
|Rentech, Inc. and Subsidiaries Balance Sheet Data (Stated in Thousands)|
|As of September 30, 2012||As of December 31, 2011|
|Cash and Cash Equivalents||$||238,506||$||237,478|
|Construction in Progress||45,734||9,809|
|Total Long-Term Liabilities||32,375||53,475|
|Total Rentech Stockholders' Equity||211,427||208,848|
- the financial performance of the Company's assets without regard to financing methods, capital structure or historical cost basis; and
- the Company's operating performance and return on invested capital compared to those of other public companies, without regard to financing methods and capital structure.
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