This Day On The Street
Continue to site
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

Rentech Reports 2012 Activities And Financial Results; Provides 2013 Guidance

For the twelve months ended December 31, 2012, total cash operating and capital expenditures for Rentech's alternative energy segment were $42.1 million, which was below the Company’s previous guidance of approximately $45 million.

Consolidated SG&A expenses were $48.2 million for the twelve months ended December 31, 2012, compared to $30.8 million for the prior year. Current period SG&A expenses were comprised of $29.8 million for the alternative energy segment and $18.4 million for Rentech Nitrogen, compared to $23.1 million and $7.7 million, respectively, for the prior-year period. The majority of the increase in SG&A expenses for the alternative energy segment relates to an increase in non-cash compensation of $6.5 million as compared to the prior period. The increase in SG&A expenses for the nitrogen products manufacturing business was primarily due to business development expenses of approximately $4.5 million, including approximately $4.1 million for the Agrifos acquisition. In addition, Rentech Nitrogen was a publicly traded limited partnership for twelve full months in 2012 as compared to 52 days in 2011, which resulted in increases in non-cash unit-based compensation of approximately $2.6 million, payroll costs of approximately $1.3 million, approximately $1.0 million in professional and other fees related to being a publicly-traded partnership, and $0.7 million of fees on the unused credit facility. Current period expenses also include $0.4 million in SG&A expenses at the Pasadena Facility. The increase in SG&A expenses was partially offset by a $0.7 million reduction in audit and tax fees due to additional audit and tax work in 2011 required for the IPO and change in fiscal year.

R&D expenses incurred in the alternative energy segment during the twelve months ended December 31, 2012 were $20.9 million, down from $28.8 million for the prior year. The decrease in R&D expenses resulted primarily from a reduction in the engineering, procurement and construction activities associated with the Rentech-ClearFuels gasifier at the PDU of approximately $17.6 million and a savings from property tax and sales and use tax of approximately $3.3 million. This reduction in expense was partially offset by an increase in the start-up and operations costs of the gasifier of approximately $6.5 million and a reduction in DOE reimbursements of $7.0 million.

8 of 10

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 16,776.43 +304.06 1.85%
S&P 500 1,987.05 +35.69 1.83%
NASDAQ 4,781.2640 +73.4890 1.56%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs