FutureFuel Corp. Announces Management Changes
Sep 2 15
Two directors of FutureFuel Corp. completed their terms of service on the Board of Directors effective August 27, 2015, the date of the company's annual shareholders meeting. William Dor did not stand for re-election, while Thomas Evans resigned from the Board. Mr. Dor has been replaced on the Board by Dale E. Cole, who was duly elected to a three year term as a Class C director at the annual meeting. In order to address Mr. Evans' resignation and supplement the Board of Directors, on August 27, 2015 the Board unanimously approved the election of Jeffrey L. Schwartz to replace Mr. Evans, and Terrance C.Z. Egger as a new director of the company. Mr. Schwartz will serve the remaining two years of Mr. Evans' term as a Class B director, while Mr. Egger's initial term as a Class A director will expire at the company's 2016 annual shareholders meeting. In order to accommodate the appointment of Mr. Egger, the Board approved an expansion of the Board from eight members to nine members, as provided in the Company's Certificate of Incorporation and Bylaws. Also, effective August 27, 2015, Paul G. Lorenzini resigned as the company's chief operating officer. Mr. Lorenzini had served as the company's COO since 2008 and will continue to serve as a company director. Jeffrey Schwartz is a private investor and consultant for digital media and technology companies. Since 2008, Mr. Schwartz has been a founder and principal of Digital Direct Ventures. He also started Old Pro Inc. From 1993 to 2008, Mr. Schwartz was the chief executive officer of Traffix Inc. and its predecessor, Quintel Communications Inc. Terrance C.Z. was recently named publisher and CEO of Philadelphia Media Network. During the past two years, Mr. Egger served as president and CEO of the Cleveland 2016 Host Committee Inc.
FutureFuel Corp. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015
Aug 10 15
FutureFuel Corp. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported revenues of $104,598,000 against $68,039,000 a year ago. Income from operations was $3,177,000 against $4,171,000 a year ago. Income before income taxes was $4,912,000 against $8,616,000 a year ago. Net income was $3,793,000 or $0.09 per diluted share against $5,347,000 or $0.12 per diluted share a year ago. This decrease was primarily due to the losses on derivative instruments and the increase in RIN inventory in company's biofuels segment, which was mitigated by improved margins from the chemicals segment and gains on marketable securities for the current quarter. Adjusted EBITDA was $9,317,000 against $6,709,000 a year ago.
For the six months, the company reported revenues of $158,685,000 against $150,236,000 a year ago. Income from operations was $13,954,000 against $11,622,000 a year ago. Income before income taxes was $17,926,000 against $18,612,000 a year ago. Net income was $11,924,000 or $0.27 per diluted share against $11,621,000 or $0.27 per diluted share a year ago. Net cash provided by operating activities was $34,860,000 against $2,842,000 a year ago. Expenditures for intangible assets were $1,408,000. Capital expenditures were $4,360,000 against $5,715,000 a year ago. Adjusted EBITDA was $22,153,000 against $16,817,000 a year ago.
FutureFuel Corp., Annual General Meeting, Aug 27, 2015
Jul 24 15
FutureFuel Corp., Annual General Meeting, Aug 27, 2015., at 10:00 Central Daylight. Location: 8235 Forsyth Blvd., 8 Floor. Agenda: To elect three directors: Paul A. Novelly, Paul G. Lorenzini, and Dale E. Cole; to ratify the appointment of RubinBrown LLP as independent auditor for the year ending December 31, 2015; and to transact such other business as may properly come before the meeting.
FutureFuel Corp. to Report Q2, 2015 Results on Aug 10, 2015
Jul 22 15
FutureFuel Corp. announced that they will report Q2, 2015 results at 5:00 PM, Eastern Standard Time on Aug 10, 2015