Exhibit 99

(REX AMERICAN RESOURCES CORPORATION LOGO)

 

 

News Announcement

For Immediate Release

REX AMERICAN RESOURCES REPORTS RECORD FOURTH QUARTER
DILUTED EPS OF $1.76 AND RECORD FULL YEAR DILUTED EPS OF $3.08

- Fiscal 2011 Net Income Rises to $28.3 Million –

Dayton, Ohio, (March 13, 2012) — REX American Resources Corporation (NYSE: REX) today reported financial results for its fiscal 2011 fourth quarter (“Q4 ‘11”) and twelve months ended January 31, 2012. REX management will host a conference call and webcast today at 11:00 a.m. ET:

 

 

Conference Call:

212/231-2931

Webcast / Replay URL:

www.rexamerican.com/Corp/Page4.aspx

 

The webcast will be available for replay for 30 days

Net income attributable to REX shareholders in Q4 ‘11 was $14.8 million, or $1.76 per diluted share, compared with a net loss of $4.6 million, or $0.49 per diluted share, in Q4 ‘10. Q4 ‘11 income from continuing operations net of tax attributable to REX shareholders was $14.4 million, or $1.72 per diluted share, compared with a loss of $5.0 million, or $0.53 per diluted share, in Q4 ‘10. The Q4 ‘11 results reflect a one-time pre-tax benefit of $3.5 million ($2.1 million, after tax), or approximately $0.25 per diluted share (after-tax) to account for the net bargain purchase gain associated with REX’s November 1, 2011 acquisition of an additional approximate 50% equity ownership interest in NuGen Energy, LLC, (“NuGen”) which raised its equity ownership in the entity to approximately 98%. The Q4 ‘10 results were impacted by the deconsolidation of Levelland Hockley County Ethanol (“LHCE”) which resulted in a one-time pre-tax charge of $18.4 million ($11.2 million, after tax), or approximately $1.19 per diluted share (after-tax) in the quarter ended January 31, 2011. REX recorded income from discontinued operations of $0.4 million, or $0.04 per diluted share for both the Q4 ‘11 and Q4 ‘10 periods. Per share results in Q4 ‘11 and Q4 ‘10 are based on 8,398,000 and 9,438,000 diluted weighted average shares outstanding, respectively.

REX’s Q4 ‘11 results primarily reflect its alternative energy segment interests in seven operating ethanol production facilities. The operations of One Earth Energy, LLC (“One Earth”) and NuGen are consolidated while those of its five other operating plants are reported as equity in income of unconsolidated ethanol affiliates. REX’s Q4 ‘11 net sales and revenue rose 81.7% to $170.5 million, from $93.8 million in Q4 ‘10, primarily reflecting the consolidation of NuGen following REX’s acquisition of an additional 50% interest in the entity and increases in ethanol and distillers grains pricing.

REX recognizes results from its ethanol interests on a quarterly calendar basis, and as a result, REX’s Q4 includes results from ethanol operations for the period October 1, 2011 through December 31, 2011, with the exception of NuGen which is for the period October 1, 2011 through January 31, 2012.

-more-


The following information was filed by Rex American Resources Corp (REX) on Tuesday, March 13, 2012 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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