http://globenewswire.com/news-release/2015/03/16/...cial-Results.html
HIGHLIGHTS:
The Company reported higher production volumes in the fourth quarter of 2014 at its Mountain Pass, California rare earth facility, with 1,328 metric tons ("mt") of rare earth oxide ("REO") equivalent production. That compares to 1,034 mt in the fourth quarter of 2013 and 691 mt in the third quarter of 2014. Full year 2014 production at Mountain Pass totaled approximately 4,769 mt, compared to 3,473 mt in 2013.
The Chlor-Alkali plant at Mountain Pass is performing well and the Company is able to produce or purchase sufficient supplies of hydrochloric acid for rare earth production.
Per-unit cash production costs at Mountain Pass declined in the fourth quarter of 2014 to $21.02 per kilogram, a 38% decrease over the third quarter of 2014 costs of $33.80 per kilogram.
The Company reported fourth quarter product sales volume of 3,149 mt, a 6% decrease over the third quarter, at an average selling price ("ASP") of $36.91 per kilogram. For the full year 2014, the Company reported sales volume of 13,019 mt, a 1% increase over 2013, at an ASP of approximately $36.53 per kilogram.
Net revenues for the quarter were $116.2 million, a 6% decrease from the third quarter. Full year 2014 net revenues were $475.6 million, a 14% decrease as compared to 2013.
The Company reported a net loss of $1.43 per share for the quarter. The Company reported a net loss of $0.39 per share for the quarter on an adjusted non-GAAP basis.
For the full year 2014, the Company reported a net loss of $2.70 per share. On an adjusted non-GAAP basis, the Company reported a net loss of $1.31 per share for the full year, due largely to impairment of goodwill and other intangible assets and write-offs of certain tangible assets. |
