"We are also excited to announce the appointment of Rose Sparks as our CFO effective June 1, 2013. Rose brings a wealth of experience to the position with over twenty years of service at the Batesville facility. Rose is an exceptionally talented individual that I have enjoyed working with very much since our acquisition of FutureFuel Chemical. We are fortunate to have a resource such as Rose and are very happy to present her with this opportunity. Rose will be replacing Chris Schmitt who has served as our CFO since February of 2011. Chris will leave the company and assume new responsibilities with Apex Oil Company, Inc., an affiliated company of our Chairman. We thank him for his contributions to FutureFuel."
"Lastly, effective June 1, 2013, David Baker, Sr. Vice President Operations Support of FutureFuel Chemical Company, will retire. I have had the privilege of working with David since our acquisition of the plant site. David has served our company with the utmost dedication and professionalism. His presence will be missed. We are sincerely appreciative of his numerous contributions to our chemicals and biodiesel businesses. We wish David the very best in all of his future endeavors."
2013 Regular Cash Dividends
FutureFuel declared normal quarterly dividends of $0.11 per share for 2013. The remaining 2013 dividends will be paid in June, September, and December.Financial Overview and Key Operating Metrics Financial and operating metrics, which include non-GAAP financial measures, include:
|Certain Financial and Operating Metrics|
|(Dollars in thousands, except per share amounts)|
|Three Months Ended March 31, 2013||Three Months Ended March 31, 2012||Dollar Change||% Change|
|Income from operations||$18,950||$10,583||$8,367||79%|
|Earnings per common share - basic||$0.33||$0.17||$0.16||94%|
|Earnings per common share – diluted||$0.33||$0.17||$0.16||94%|
|Capital expenditures (net reimbursements)||$1,261||$1,956||$ (695)||(36)%|
|Cash and cash equivalents and marketable securities||$158,563||$146,505||$12,058||8%|