(ADPnews) - Nov 12, 2010 - US ethanol maker BioFuel Energy Corp (NASDAQ:BIOF) said on Wednesday its third-quarter net loss narrowed to USD 1.8 million (EUR 1.3m) from a loss of USD 8.4 million a year ago.
"Overall, margins showed steady improvement during the quarter, as ethanol prices more than kept up with rising corn prices. In addition, our plants performed well and our production cost improvements showed through in our results, as we continue to focus on achieving profitability," CEO Scott Pearce said, commenting on the results.
Operating profit came to USD 1 million from a loss of USD 3.8 million, while the cost of goods sold rose to USD 110.1 million from USD 89 million a year earlier.
Revenue increased to USD 114.7 million from USD 91.1 million on an annual basis.
Veselina Petrova is one of Renewables Now's most experienced green energy writers. For several years she has been keeping track of game-changing events both large and small projects and across the globe.