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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Hudson Technologies Reports Record Revenues And Profitability For 2012

Hudson Technologies, Inc. (NASDAQ: HDSN), announced results for the fourth quarter and year ended December 31, 2012.

Revenues for the three months ended December 31, 2012 increased by 26% to $4,869,000 from $3,856,000 in the comparable 2011 period. Net income for the fourth quarter, which included an income tax benefit of $4,638,000 ($4,000,000 of which was associated with the Company’s recognition of its deferred tax asset), was $2,964,000, or $0.12 per basic share and $0.11 per diluted share, compared to a net loss of $723,000, or $0.03 per basic and diluted share for the fourth quarter of 2011.

For the year ended December 31, 2012, Hudson reported record revenues of $56,447,000, an increase of 27% as compared to revenues of $44,322,000 in the year ended December 31, 2011. Gross profit margins increased to 40% for 2012 as compared to 20% in 2011. For 2012, the Company reported income tax expense in the amount of $1,395,000, based upon federal and state income taxes of $5,395,000, partially offset by the recognition of $4,000,000 for the Company’s deferred tax asset. The Company reported net income of $12,801,000, or $0.54 per basic share and $0.49 per diluted share in 2012, compared to net income of $1,034,000 or $0.04 per basic and diluted share in the same period of 2011.

Kevin J. Zugibe, Chairman and Chief Executive Officer of Hudson Technologies commented, “We are very pleased with our financial results for 2012, having achieved record revenues and record profitability. Our financial performance continues to be favorably impacted by the EPA’s support of the growth of reclamation and recycling through regulatory actions that have mandated annual reductions in the production of virgin R-22 refrigerant. As we previously reported, last month the EPA revised and extended the ‘No Action Assurance’ issued in January 2012 to further reduce the 2013 levels of R-22 when compared to 2012. We are pleased with EPA’s No Action Assurance, which has already had a positive impact on pricing, and we believe that we are well positioned for another year of strong results. As the EPA continues to make progress toward the complete phase out of R-22, we believe we will continue to see growth in the reclamation market, with recovered refrigerants filling the supply gap created with the limitation of virgin R-22 production.

1 of 3

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 16,915.07 -70.54 -0.42%
S&P 500 1,964.84 -7.99 -0.40%
NASDAQ 4,398.1390 -20.8950 -0.47%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

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