RiceBran Technologies Posts Q114 Financial Result
News: US-based firm RiceBran Technologies recorded a 12% year-on-year (y-o-y) decrease in consolidated revenues to USD7.7mn during Q114, down from USD8.7mn during Q113. The decline came on the back of the closure of the firm's Irgovel plant in Brazil for 10 weeks in Q113 to allow installation of equipment necessary to expand the capacity at the rice bran bio-refinery by at least 50% to 9,000 metric tonnes every month. The firm's consolidated gross profit increased by 46% y-o-y to USD1.4mn, while consolidated gross margins improved from 9.9% of revenues in Q113 to 18.4% in Q114. Operating expenses increased to USD4.1mn during the reported period, compared with USD3.7mn in the same period of the previous year.