Vertex Energy, Inc. (“Vertex” or the “Company”)(OTCBB:VTNR), a leader in the aggregation, recycling and processing of distressed hydrocarbon streams, today announced its financial results for the fiscal quarter ended March 31, 2010. Vertex’s results of operations for the three months ended March 31, 2010, were reported in its Form 10-Q filing for the period ended March 31, 2010, which was filed with the Securities and Exchange Commission today, May 17, 2010.

“The first quarter results for 2010 were a positive start to the year,” said Benjamin P. Cowart, Vertex’s Chief Executive Officer. Mr. Cowart continued, “Despite the traditional slow down in the first quarter resulting from the seasonal decrease in demand for fuel products, we posted positive net income and made progress on a number of key fronts. The first three months of the year saw significant improvement in our Refining & Marketing Division in particular to include increased production from our licensed Thermal-Chemical Extraction Process (“TCEP”) technology. We intend to continue to build on the progress we made during the first quarter moving forward, by further improving our TCEP process, expanding our traditional Refining and Marketing activities, and benefiting from the increase in used oil demand that has historically taken place with the arrival of Spring and Summer.”

For the quarter ended March 31, 2010, Vertex reported consolidated revenue of $13.27 million, an increase of 69% over the same period in 2009. Gross profit increased in the first quarter to $1.03 million compared to gross profit of $18,492 for the first quarter of 2009. Net income for the first quarter was $270,011, which compared favorably to a net loss of $613,884 during the same period in 2009.

The Refining & Marketing Division produced revenue of $10.32 million for the quarter ending March 31, 2010 versus $1.98 million of revenue during the same period in 2009. Gross profit improved in the Refining & Marketing Division from a gross loss of $225,983 in the first quarter of 2009 to a gross profit of $960,923 for the first quarter of this year. Vertex has been selling finished product from its licensed TCEP technology, a business initiative within the Refining & Marketing Division since July of 2009.

The Black Oil Division generated revenue for the quarter ended March 31, 2010 of $2.96 million compared to $5.87 million during the same period in 2009. Gross profit in this division decreased from $244,475 in the first quarter of 2009 to $66,907 during the first quarter of 2010.

“The first quarter represents a solid start to the year, but we believe there are better results to come as the rest of the year unfolds,” said Mr. Cowart. “I was particularly pleased with the performance of our Refining & Marketing Division during the first quarter and we will continue to seek opportunities to expand our traditional business in that division. Additionally, I believe we can continue to increase production from our licensed TCEP technology through the remainder of the year. We exceeded our forecasted TCEP volume in March and we did so again in April by producing nearly 36,000 barrels of product. We clearly understand the need to make improvements in our Black Oil Division, but the end of the seasonal slow down will likely help in that respect. Overall, I feel we are making great strides and the first quarter represents a solid building block for Vertex’s performance for the full year ending December 31, 2010,” concluded Mr. Cowart.


As previously announced, Vertex Energy, Inc. will host a conference call today, Monday, May 17, 2010, at 3:15 p.m. Central Time (4:15 p.m. Eastern Time). In order to participate in the call, please dial (800) 288-8961 (Conference ID: 157332), or if outside the U.S., (612) 234-9959. A webcast of the conference call will be available on the Vertex website at through June 15, 2010.


Vertex Energy, Inc. (OTCBB: VTNR) is a leader in the aggregation, recycling and processing of distressed hydrocarbon streams thereby reducing the United States’ reliance on foreign crude oil. Vertex’s focus, as a participant in the alternative energy and environmentally friendly investment sectors, is on creating increased value in the products it manages and produces through a variety of strategies and technologies that facilitate the re-refining of used oil and off specification commercial chemical products into higher value commodities. By creating higher value products from distressed hydrocarbon streams, the Company is positioned to produce both financial and environmental benefits. Vertex is based in Houston, Texas with offices in Georgia and California. More information on the Company can be found at

This press release may contain forward-looking statements, including information about management’s view of Vertex’s future expectations, plans and prospects, within the safe harbor provisions under The Private Securities Litigation Reform Act of 1995 (the “Act”). In particular, when used in the preceding discussion, the words "believes," "expects," "intends," "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements within the meaning of the Act, and are subject to the safe harbor created by the Act. Any statements made in this news release other than those of historical fact, about an action, event or development, are forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of Vertex, its divisions and concepts to be materially different than those expressed or implied in such statements. These risk factors and others are included from time to time in documents Vertex files with the Securities and Exchange Commission, including but not limited to, its Form 10-Ks, Form 10-Qs and Form 8-Ks. Other unknown or unpredictable factors also could have material adverse effects on Vertex’s future results. The forward-looking statements included in this press release are made only as of the date hereof. Vertex cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, Vertex undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by Vertex.

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