Rentech Inc. shares gained a market high last Monday, this is soon after the fuel developer release reports of the company’s first-ever profitable quarter, with its earnings exceeding Wall Street Expectations.
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The company which was based in Los Angeles, and developing technology which converts a variety of biomass feedstocks into a systhesis gas, reported third-quarter net income of $36.1 million (22 cents per shares), as to compared with a net loss of $7.7 million (-5 cents) a year ago. Revenue rose 51 percent to $91.4.
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