Gross profit for the three months ended September 30, 2013 was $21.2 million, a decrease of $13.8 million compared to the prior-year period.
Operating loss for the three months ended September 30, 2013 was $20.2 million, compared to operating income of $16.6 million in the prior-year period.
Consolidated Adjusted EBITDA for the three months ended September 30, 2013 was $11.5 million, a decline of $9.4 million compared to the prior-year period.
D. Hunt Ramsbottom, President and CEO of Rentech, said, “We are extremely pleased with the performance in our wood fibre processing business, as Fulghum Fibres generated solid gross margin of 19% and progress continues to be made on our two wood pellet production facilities. Fulghum remains on track to generate annualized revenues and EBITDA of $95 million and $20 million, respectively. Construction of the Atikokan and Wawa pellet facilities in Eastern Ontario commenced in August, and we remain on schedule to meet our pellet delivery obligations to OPG and Drax next year.”
Consolidated revenues for the nine months ended September 30, 2013 increased by $126.1 million to $295.6 million compared to the prior-year period. Gross profit for the nine months ended September 30, 2013 was $86.3 million, a decrease of $17.0 million compared to the prior-year period.
Operating income for the nine months ended September 30, 2013 was $6.9 million, a decline of $45.7 million compared to the prior-year period. Consolidated Adjusted EBITDA for the nine months ended September 30, 2013 was $49.3 million, compared to $63.8 million for the prior-year period.
Rentech, Inc. owns and operates wood fibre processing and nitrogen fertilizer manufacturing businesses.