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Primary Energy Recycling Corp Posts Q4; Rose 2%, Closer To Year Highs Wednesday

Primary Energy Recycling Corporation (PRI.TO), with a year high of $5.32, said net income and comprehensive income for the fourth quarter of 2012 was $12.4 million compared to $0.02 million for the fourth quarter of 2011, primarily due to the recognition of an income tax benefit of $12.8 million associated with the NOL carryforward recorded upon completion of the company's 2009 tax audit. Net income and comprehensive income for 2012 was $7.3 million compared to a net loss and comprehensive loss of $2.5 million for 2011, an increase of $9.8 million.

The company paid its first quarterly dividend of $0.05 per common share during the fourth quarter of 2012. In the first quarter of 2013, the company paid a quarterly dividend of a US$0.05 common share.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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