- Consolidated revenues (+$21.8 million), gross profit (+$7.7 million) and EBITDA (+$4.8 million) increased strongly year over year on higher gas and electric consumption
- IDT Energy increased EBITDA by $6.4 million compared to 4Q11, to $7.9 million
- In early March, 2013, AMSO, LLC initiated start up of its oil shale pilot test in Colorado.
- On February 20, 2013, the government of Israel awarded a Genie Energy subsidiary an exclusive petroleum exploration license covering 396.5 square kilometers in the Southern portion of the Golan Heights. The Company believes that the license area may contain significant quantities of conventional oil and gas in relatively tight formations
- Also in Israel, the Supreme Court rejected both pending legal challenges to IEI’s oil shale exploration license during 4Q12
- Fully diluted net income per share attributable to Genie Energy’s common stockholders of $0.08 compared to a diluted loss per share of $(0.06) in 4Q11
- Net cash used in operating activities of $2.2 million compared to net cash provided by operating activities of $0.8 million in 4Q11
Genie Energy Ltd. Reports Fourth Quarter And Year End 2012 Results
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