Gross margins for the nitrogen products manufacturing business were 31% for the three months ended December 31, 2012, compared to 41% for the same period last year due to the absorption of fixed costs on lower volumes resulting from plant outages in the fourth quarter of 2012, lower prices for most products at the East Dubuque Facility and the contribution of gross profits from the Pasadena Facility, which were lower gross margin sales than those from the East Dubuque Facility. Average natural gas costs in cost of sales for the East Dubuque Facility were $3.44 per MMBtu for the three months ended December 31, 2012, compared to $4.75 per MMBtu for the prior-year period. Average ammonia and sulfur costs in cost of sales for the Pasadena Facility were $658 per ton and $154 per ton, respectively, for the current period.For the three months ended December 31, 2012, Rentech reported a consolidated net loss of $24.5 million, or $0.11 per basic share. Included in these results are $16.0 million of impairments and a $4.8 million loss for debt extinguishment expenses. Excluding these items, Rentech would have generated a net loss of $0.02 per basic share. This compares to a net loss of $8.5 million, or $0.04 per basic share, reported in the comparable period in the prior year. Excluding non-recurring items, the Company generated net income of $0.01 per share for the prior-year period.
Rentech Reports 2012 Activities And Financial Results; Provides 2013 Guidance
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