FutureFuel Corp. (FF) 2011年年度报告「NYSE」.pdf

1、SUPERIOR CHEMISTRY,SUSTAINABLE FUELS2011 ANNUAL REPORTFINANCIAL HIGHLIGHTS(Dollars in millions)Chemicals Segment RevenuesBiofuels Segment Revenues$16818016014012010080604020201120102009$144$178$53$411501401301201101009080706050403020102011$14220102009Consolidated Net Income$3540353025201510520112010

2、2009$17$23TO OUR SHAREHOLDERS2011 was a record year for FutureFuel.We are very pleased to report meaningful year-over-year revenue growth from our biofuels business,resulting primarily from the reinstatement of the$1.00 per gallon federal blenders tax credit in December 2010 and increased demand for

3、 biodiesel driven by the mandates set by RFS2.A summary of our fourth quarter 2011 and fiscal year 2011 financial highlights is as follows:Fourth Quarter 2011 Financial Highlights(all comparisons are with the quarter ended December 31,2010)Revenues were$90 million,up 67%from$54 million.Adjusted EBIT

4、DA was$20 million,up 25%from$16 million.Net income increased to$11 million,or$0.26 per diluted share,from$10 million,or$0.25 per diluted share.2011 Financial Highlights(all comparisons are with the year ended December 31,2010)Revenues were$310 million,up 41%from$219 million.Adjusted EBITDA was$62 mi

5、llion,up 51%from$41 million.Net income increased to$35 million,or$0.84 per diluted share,from$23 million,or$0.62 per diluted share.Revenues from the chemicals segment decreased 6%to$168 million,resulting predominately from decreasing sales of the bleach activator product due to reduced volumes;howev

6、er,price and volume differences from other products helped to minimize this effect.Revenues from the biofuels segment were$142 million,and included increasing regional sales of blended biodiesel and unblended petrodiesel.The volumes of biodiesel and blended biodiesel sold in 2010 were limited due to