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TheStreet Open House

Green Plains Reports Fourth Quarter And Full-Year 2012 Financial Results

Stocks in this article: GPRE

Results for the Fourth Quarter of 2012

  • Net income of $33.0 million, or $0.94 per diluted share
  • Net income of $6.7 million, or $0.21 per diluted share, excluding the gain on the sale of agribusiness assets

Results for the Full Year of 2012

  • Net income of $11.8 million, or $0.39 per diluted share

OMAHA, Neb., Feb. 6, 2013 (GLOBE NEWSWIRE) -- Green Plains Renewable Energy, Inc. (Nasdaq:GPRE) announced today its financial results for the fourth quarter and full year ended December 31, 2012. Net income attributable to Green Plains for the full year of 2012 was $11.8 million, or $0.39 per diluted share, compared to net income of $38.4 million, or $1.01 per diluted share, in 2011. Revenues were $3.5 billion for 2012 compared to $3.6 billion in 2011.

For the quarter ended December 31, 2012, net income attributable to Green Plains was $33.0 million, or $0.94 per diluted share, compared to $13.3 million, or $0.36 per diluted share, for the same period in 2011. Revenues were $883.7 million for the fourth quarter of 2012 compared to $922.8 million during the same period in 2011.

"All of our business segments reported positive operating income during both the fourth quarter and the last half of 2012. We believe this demonstrates the effectiveness of our low-cost platform and our ability to manage risk. For the fourth year in a row, our business was profitable and, with the sale of the 12 grain elevators, we continue to focus on creating value for our shareholders," stated Todd Becker, President and Chief Executive Officer. "We ended 2012 with $280 million in cash and the lowest ethanol plant debt in our history. This positions us for the future to take advantage of growth and diversification opportunities and to continue to withstand the cyclicality of our business."

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