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Reports Net Income for 2013 of $74.0 Million or $1.71 Per Diluted Share, and Adjusted EBITDA of $96.7 Million
Conference Call Begins at 9:00 a.m. Eastern Time March 18, 2014
CLAYTON, Mo., March 17, 2014 (GLOBE NEWSWIRE) --
FutureFuel Corp. (NYSE:FF), a manufacturer of custom and performance chemicals and biofuels, today announced financial results for the year ended December 31, 2013.
Fourth Quarter 2013 Financial Highlights (all comparisons are with the fourth quarter of 2012)
Revenues were $125.6 million, up 68% from $74.6 million
Adjusted EBITDA was $28.2 million, up 373% from $6.0 million
Net income increased to $26.5 million, or $0.61 per diluted share, from $6.2 million, or $0.15 per diluted share
2013 Financial Highlights (all comparisons are with the year ended December 31, 2012)
Revenues were $444.9 million, up 26.5% from $351.8 million
Adjusted EBITDA was $96.7 million, an 84.4% increase from $52.3 million
Net income increased to $74.0 million, or $1.71 per diluted share, from $34.3 million, or $0.83 per diluted share, increases of 116% and 106%, respectively
"FutureFuel enjoyed strong performance in both our chemical and biodiesel business lines. Market conditions combined with superior execution resulted in record revenue and profits for 2013," said Lee Mikles, FutureFuel president. "We are committed to improve and position our company for future growth both organically as well coupled with strategic acquisitions when appropriate. We strive to be very shareholder aware with our continued dividend policy paired with an exceptionally strong balance sheet."
Key 2013 Corporate Milestones
FutureFuel's year-to-date corporate milestones include:
The payment of dividends in 2013 totaling $0.69 per common share, including an additional $0.25 per share special dividend
For the third year in a row, ranked as one of the top 100 small public companies in America by Forbes magazine in October 2013
Added to the S&P Small Cap 600 in November 2013
2014 Regular Cash Dividends
FutureFuel declared normal quarterly dividends of $0.12 per share for 2014, payable in March, June, September, and December, an increase from $0.11 per share in 2013.