RiceBran Technologies, who produce and market value added products derived from rice bran, has reported consolidated revenues up 2.1% to $37.7 million for the year ended December 31, 2012. The increase would have been greater had it not been for the impact of exchange rates, the company said.
Consolidated net loss for 2012 was $9.5 million,compared to $10.1 million, or $0.05 per share for 2011. Loss from operations improved to $8.7 million in 2012 from $9.6 million in 2011.
"During 2012, we achieved consolidated revenue growth despite dealing with all time high raw rice bran prices while also expanding and improving our bio-refining facility in Brazil,” said J. Dale Belt, executive vice president and CFO. “In addition, we continued working with our strategic alliance partners relative to international distribution of our products and research and development efforts on concentrating protein from rice bran. Looking forward, we believe we are well positioned to continue growing revenues as we move toward positive cash flow results and ultimately profitability."
