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Rex American Resources Corp. (NYSE:REX)’s first quarter profits surged by $3.3M

Boston, MA 05/23/2013 (wallstreetpr) – The share prices of Rex American Resources Corp. (NYSE:REX) surged by 12.61 percent to close at $24.55 per share for the end of trading day. This increase in share prices was about $2.75 gain per share over the closing price of previous trading day. The shares of Rex American Resources Corp. (NYSE:REX) traded in the range of $22.80 per share to $26.50 per share, thereby readjusting the 52 week high price of the company to new levels.

Results for first quarter of 2013

Rex American Resources Corp. (NYSE:REX) had recently reported that the first quarter profits from continuing operations surged to $3.3 million which gets translated into $0.4 per share. This profit was observed to largely greater than the $0.8 million or $0.09 per basic and diluted share. Further, Rex American Resources Corp. (NYSE:REX) also registered net income attributable to shareholders of $3.5 million or $0.43 per basic and diluted share, which was more than the previous year’s net income of $0.9 million or $0.11 per share.

Such a strong start in the fiscal year of 2013 for Rex American Resources Corp. (NYSE:REX) was attributed to an improved industry environment, higher level of involvement of the company in state of the art ethanol plants and greater commitment to operating discipline in both the administration and plant level processes.

Rex American Resources Corp. (NYSE:REX) has a total of 8.15 million shares outstanding and the institutional holding in the company amounts to 55 percent of its ownership.

Published by Flavia Carruth

Hi, I am Flavia and have done my MBA with finance as specialization and a Bachelor in Economics with 4 years of experience as Financial Analyst in leading Software Firm. I have passion for article writing, report making and stock market Analysis.

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