Rentech, Inc announced financial and operating results for the 1Q 2016. Consolidated revenues for the 1Q 2016 were $39.9 million, compared to $36.4 million in the prior year period. Gross profit for the 1Q 2016 was $0.1 million, compared to $5.5 million in the prior year period, as the company said in the press release received by Lesprom Network.
Consolidated Adjusted EBITDA loss, excluding discontinued operations, for the 1Q 2016 was $3.9 million, compared to a loss of $2.2 million in the prior year period.
Net loss attributable to Rentech common shareholders for the 1Q 2016 was $10.2 million, or a loss of $0.44 per basic share, of which $0.10 per basic share was generated by discontinued operations.
This compared to a net loss of $4.9 million, or a loss of $0.22 per basic share, of which $0.10 per basic share was generated by discontinued operations, for the same period last year.
The increase in net loss between periods is primarily attributable to higher depreciation and interest expense and significantly lower results at NEWP.
Keith Forman, President and CEO of Rentech, stated, “We are pleased to have completed Rentech Nitrogen’s merger with CVR Partners and the partial retirement and amendment of our obligations with GSO Capital on improved terms on April 1st. The transactions have transformed Rentech into a pure play fibre business with a significantly improved balance sheet.”
Rentech, Inc. is a company that owns and operates wood fiber processing and nitrogen fertilizer manufacturing businesses.
