Nov 12, 2013 - US green fuel producer Biofuel Energy Corp (NASDAQ:BIOF) said Monday its net loss had narrowed to USD 5.1 million (EUR 3.8m) in the third quarter of 2013 from USD 11.3 million a year ago.
In spite of the improvement, the firm’s bottom line was still affected by a USD-2-million interest expense, it said. The net loss attributable to its shareholders came at USD 4.5 million, as compared to a loss of USD 9.8 million in July-September 2012. This translated into a loss per basic and diluted share of USD 0.84, shrinking from USD 1.88.
The ethanol producer managed to cut its operating loss in the three months to USD 5.7 million from USD 10.1 million. Earnings before interest, tax, depreciation and amortisation (EBITDA) stood at USD 3.7 million versus a negative result of USD 2.6 million a year back.
Revenues declined to USD 79 million from USD 116.1 million. BioFuel Energy sold 25.9 million gallons (98 million litres) of ethanol, down from 36.3 million gallons previously.
For the first nine months of 2013, BioFuel Energy booked a net loss of USD 15.2 million, contracting from USD 34.8 million in the same period of the prior year.
(USD 1.0 = EUR 0.747)
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