"We are satisfied with full year results as they came in within our expectations particularly given the delay in the startup of a strategic customer," said Nick Carter, President and Chief Executive Officer of Arabian American. "The change in volume from the prior year's comparable quarter was the result of several factors including a planned maintenance shutdown and the resolution of a competitor's production outages. Additionally, our customer's delay in production at the Canadian tar sands project carried through in fourth quarter 2012. Going forward, it is our understanding that the tar sands' orders are coming back online in the second quarter and will continue for the remainder of 2013. Combined with the AMAK mine, which began shipping copper and zinc concentrate late last year, we feel that we have good momentum moving into 2013."
Arabian American will host a conference call and live webcast at 4:30 p.m. Eastern Time, Thursday, March 7, 2013. Anyone interested in participating should call 1-877-941-4774 if calling within the United States or 1-480-629-9760 if calling internationally. Playback will be available until March 14, 2013. To listen to the playback, please call 1-877-870-5176 if calling within the United States or 1-858-384-5517 if calling internationally. Use pin number 4601831 for the replay.
A link to a simultaneous webcast of the teleconference will be available at http://www.arabianamericandev.com through Windows Media Player or RealPlayer. A replay of the call will also be available through the same link. The webcast replay will be available for one month after the call.About Arabian American Development Company (ARSD) ARSD owns and operates a petrochemical facility located in southeast Texas, just north of Beaumont which specializes in high purity petrochemical solvents and other solvent type manufacturing. The Company is also the original developer and a 35% owner of Al Masane Al Kobra Mining Co., a Saudi Arabian joint stock company. Use of Non-GAAP Measures The Company reports its financial results in accordance with U.S. generally accepted accounting principles ("GAAP"). This press release contains the non-GAAP measure: EBITDA. Our non-GAAP measures are not meant to be considered in isolation or as a substitute for comparable GAAP measures and should be read only in conjunction with our consolidated financial statements prepared in accordance with GAAP.
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