RTS Oil Holdings, Inc. Announces Earnings Results for the Third Quarter and Nine Months Ended December 31, 2013
For the nine months, the company's revenues increased 20% to $69.6 million compared to $60.0 million during the comparable prior period in 2012. The increase in Revenue was primarily due to an increase in sales from wholesale operations and an increase of retail prices partially offset by the decrease in sales from petrol stations. Net income increased to $3.5 million for the nine months ended December 31, 2013, compared to a loss of $1.1 million for the prior year period. Basic and diluted net income per common share for the nine months ended December 31, 2013, and 2012, were $0.11 and $0.03, respectively. Adjusted EBITDA for the nine months ended December 31, 2013, was $13.67 million compared to $8.13 million for the same period in 2012.