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"The fourth quarter proved to be the most challenging period of the year, as weak ethanol pricing significantly impacted margins," said REX American Resources' Chief Executive Officer Zafar Rizvi. "Despite these headwinds, stronger distillers grains pricing, coupled with our ability to efficiently increase output across our ethanol and by-products segment and the benefit of our refined coal operation, resulted in our ability to continue to operate profitably and generate $31.6 million of net income for the fiscal full year 2018."
REX was once an electronics retailer but then became an alternative energy firm with investments in ethanol plants. Its founder Stuart Rose is also known for a naming rights donation with his wife Mimi for the Rose Music Center in Huber Heights.
REX reported for the year it had a profit of $31.6 million, or $4.91 per share. Revenue was reported as $486.7 million.
REX shares have increased 19 percent since the beginning of the year. The stock has dropped nearly 5 percent in the last 12 months.
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