QualityStocks News - Vertex Energy Posts Q4, FY 2011 Financial Results

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Company achieves significant increases in revenues and sales volumes for fourth quarter and full-year 201.1

QualityStocks would like to highlight Vertex Energy, Inc., a publicly traded company focused on the recycling of industrial waste streams and off-specification commercial chemical products. The primary aim is the recycling of used motor oil and other petroleum by-product streams. Vertex Energy purchases these streams from an established network of local and regional collectors and generators. Vertex Energy manages the transport, storage and delivery of the aggregated feedstock and product streams to end users. The company also manages the re-refining of a portion of our aggregated petroleum streams in order to sell them as higher-value end products. Vertex also sells aggregated petroleum streams as feedstock to other re-refineries and fuel blenders or as replacement fuel for use in industrial burners.

In the company’s news yesterday,

Vertex Energy announced its financial results for the fourth quarter and full year ended December 31, 2011.

Fourth quarter revenue increased nearly 100 percent to $31.3 million for 2011 compared with $15.7 million in revenue reported for the fourth quarter of 2010.

Gross profit was $1.31 million compared with $1.48 million during the fourth quarter of 2010.

Income from operations was $235,829 compared with $510,205 during the fourth quarter of 2010.

Net income was $2.1 million compared to $467,280 in last year’s fourth quarter; $1.8 million of this increase is attributable to the tax benefit stemming from the net operating losses related largely to the World Waste Technologies merger.

Vertex’ sales volumes improved 29 percent in the fourth quarter of 2011 compared to the fourth quarter of 2010.

“While the fourth quarter income results were behind last year’s fourth quarter, we are entering the new year in a position of strength. We believe improvements will continue into 2012, and expect the first quarter 2012 to outperform the first quarter of 2011,” Benjamin P. Cowart, CEO of Vertex stated in the press release.

Full-year 2011 revenues increased 89 percent to $109.7 million for the year ended 2011 compared with $58.1 million in 2010.

Gross profit increased to $8.1 million, a 90 percent increase over the $4.2 million reported in 2010.

Income from operations improved 247 percent to $4.0 million, compared with $1.1 million reported last year.

Net income improved to $5.8 million or $0.39 per fully diluted share, compared with net income of $1.2 million, or $0.09 per fully diluted share, reported in 2010; net income for the 2011 year includes a $1.8 million tax benefit, primarily stemming from the company’s net operating losses related to the 2009 World Waste Technologies merger.

Company-wide sales volumes increased 26 percent over 2010.

According to Cowart, Vertex is moving through 2012 with “relatively no long-term debt, significantly increased cash flow, and advantageous market conditions” as the company continues to explore strategic acquisitions for further growth.

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Forward-Looking Statement:
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.

About QualityStocks

QualityStocks, based in Scottsdale, Arizona, is a free service that collects data from hundreds of Small-Cap and Micro-Cap online Investment Newsletters into one Daily Newsletter Report. QualityStocks is dedicated to assisting emerging public companies with their investor communication efforts and connecting subscribers with companies that have huge potential to succeed in the short and long-term future.

To sign up for The QualityStocks Daily Newsletter, please visit http://www.QualityStocks.net

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Please read FULL disclaimer on the QualityStocks website: http://Disclaimer.QualityStocks.net

Forward-Looking Statement:
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.

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