Reuters: Global Markets: Renewable Energy Group posts profits, volumes rise

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Renewable Energy Group posts profits, volumes rise Aug 14th 2012, 20:54 Tue Aug 14, 2012 4:54pm EDT (Reuters) - Biodiesel maker Renewable Energy Group Inc (REGI.O) posted a second-quarter profit on Tuesday versus a year-ago loss, as the company continued to increase production. REG posted net income for the second quarter of $11.3 million, or 39 cents per share, versus a loss of $10.3 million, or 78 cents per share, in the year-ago quarter. Its adjusted earnings before interest, taxes, depreciation and amortization were $26.4 million. REG is the largest producer of biodiesel in the United States and converts natural fats, oils and greases into advanced biofuels. Production in the second quarter rose to 43 million gallons from 33 million a year earlier. Revenue for the quarter rose 39 percent to $271.9 million. REG shares jumped 8.5 percent in extended trading on the NASDAQ to $5.10, down about half from $10.10 on the company's first trading day on January 19.

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