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Biofuel Energy Corp.: Q4 and Year End 2012 Results
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Denver, Colorado - Biofuel Energy Corp., an ethanol production company, announced its fourth quarter and year end 2012 results. For the quarter ended December 31, 2012, the net loss was $11.5 million on revenues of $84.9 million, compared with net income of $4.5 million on revenues of $164.0 million in the year-ago quarter. For the year ended December 31, 2012, the net loss was $46.3 million on revenues of $463.3 million, compared with a net loss of $10.4 million on revenues of $653.1 million for the year ended December 31, 2011. For the quarter ended December 31, 2012, the net loss attributable to common stockholders was $10.0 million, or $1.89 per share, while for the year ended December 31, 2012 the net loss attributable to common stockholders was $39.8 million, or $7.65 per share.
For the quarter ended December 31, 2012, the Company's operating loss was $10.4 million, which resulted from $92.7 million in cost of goods sold and $2.6 million in general and administrative expenses. During the fourth quarter of 2012, the Company also had $0.8 million of other income while incurring $1.8 million in interest expense, which resulted in a net loss of $11.5 million. For the full year 2012, the Company's operating loss was $40.5 million, which resulted from $493.9 million in cost of goods sold and $9.9 million in general and administrative expenses. The Company also had $1.4 million of other income while incurring $7.3 million of interest expense during the year, which resulted in a net loss of $46.3 million. At December 31, 2012, the Company had $9.3 million of cash and cash equivalents, of which $8.6 million was held at the parent and $0.7 million was held at the operating subsidiaries.
This release contains certain forward-looking statements within the meaning of the Federal securities laws. Such statements are based on management's current expectations, estimates and projections, which are subject to a wide range of uncertainties and business risks. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of whether, or the times by which, our performance or results may be achieved. Factors that could cause actual results to differ from those anticipated are discussed in our Exchange Act filings and our Annual Report on Form 10-K.
BioFuel Energy currently has two 110 million gallons per year ethanol plants in the Midwestern corn belt.
Contact:
Kelly G. Maguire
Executive Vice President & Chief Financial Officer
(303) 640-6500
[email protected]
www.bfenergy.com
Denver, Colorado - Biofuel Energy Corp., an ethanol production company, announced its fourth quarter and year end 2012 results. For the quarter ended December 31, 2012, the net loss was $11.5 million on revenues of $84.9 million, compared with net income of $4.5 million on revenues of $164.0 million in the year-ago quarter. For the year ended December 31, 2012, the net loss was $46.3 million on revenues of $463.3 million, compared with a net loss of $10.4 million on revenues of $653.1 million for the year ended December 31, 2011. For the quarter ended December 31, 2012, the net loss attributable to common stockholders was $10.0 million, or $1.89 per share, while for the year ended December 31, 2012 the net loss attributable to common stockholders was $39.8 million, or $7.65 per share.
For the quarter ended December 31, 2012, the Company's operating loss was $10.4 million, which resulted from $92.7 million in cost of goods sold and $2.6 million in general and administrative expenses. During the fourth quarter of 2012, the Company also had $0.8 million of other income while incurring $1.8 million in interest expense, which resulted in a net loss of $11.5 million. For the full year 2012, the Company's operating loss was $40.5 million, which resulted from $493.9 million in cost of goods sold and $9.9 million in general and administrative expenses. The Company also had $1.4 million of other income while incurring $7.3 million of interest expense during the year, which resulted in a net loss of $46.3 million. At December 31, 2012, the Company had $9.3 million of cash and cash equivalents, of which $8.6 million was held at the parent and $0.7 million was held at the operating subsidiaries.
This release contains certain forward-looking statements within the meaning of the Federal securities laws. Such statements are based on management's current expectations, estimates and projections, which are subject to a wide range of uncertainties and business risks. Forward-looking statements should not be read as a guarantee of future performance or results, and will not necessarily be accurate indications of whether, or the times by which, our performance or results may be achieved. Factors that could cause actual results to differ from those anticipated are discussed in our Exchange Act filings and our Annual Report on Form 10-K.
BioFuel Energy currently has two 110 million gallons per year ethanol plants in the Midwestern corn belt.
Contact:
Kelly G. Maguire
Executive Vice President & Chief Financial Officer
(303) 640-6500
[email protected]
www.bfenergy.com