Vertex Energy Reports a 53% Increase in Gross Profit for Third Quarter 2013 Compared to Third Quarter 2012

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Vertex Energy Reports a 53% Increase in Gross Profit for Third Quarter 2013 Compared to Third Quarter 2012

Vertex Energy, Inc. (NASDAQ:VTNR), an environmental services company that recycles industrial waste streams and off-specification commercial chemical products, today announced its financial results for the quarter and nine months ended September 30, 2013.

Financial highlights for the quarter include:

Gross profit increased by approximately 53% relative to the same quarter last year to $4.88 million;

Revenue increased by 29% relative to the third quarter of last year to $46.8 million;

Overall volumes of product sold increased by 19% for the third quarter of 2013 versus the third quarter of 2012;

Our overall per barrel margin increased by 29% relative to the same quarter a year ago;

Income before income taxes improved by 486% for the quarter; and

Net income improved by 11% relative to the third quarter of last year to $2.33 million.

Benjamin P. Cowart, Chief Executive Officer of Vertex Energy said, “We are continuing to see growth in our gross margin and overall sales volumes year over year. Despite challenging market conditions relative to a year ago, we were able to grow both the top line and our net income during the third quarter of 2013 as benefits from our acquisition last year continue to take hold.”

Mr. Cowart continued, “We continue to pursue both organic growth such as our recent entry into the Dallas-Fort Worth used oil collection market as well as growth through acquisition as evidenced by our recent transaction with E-Source.” Mr. Cowart concluded, “We believe that our progress through three quarters of 2013, as well as recent efforts to expand our customer base for finished product and our overall collection footprint, will result in a year-end revenue figure of between $140 million and $150 million, net income to be greater than $5 million, with fully diluted earnings per share in excess of $0.30.”

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Companies of Interest:
Companies of Interest included in
this publication are derived from the numerous sources and screens we use
on a routine basis to select our focus companies featured in our monthly
newsletter the Emerging Growth News. While we have only
briefly reviewed these companies, something caught our attention and in
our opinion the company warrants further inspection.
Abraxas Petroleum Corp. (AXAS:NASDAQ) $3.17 11/7/2013

The company is an independent energy company that engages in the acquisition, exploitation, development, and production of oil and gas in the United States and Canada. Sales were up 69% and the company posted a profit versus a loss over the same period last year (as reported in the most recent quarter), trading at 9.04 times forward earnings, 3.70 times sales, 5.22 times book, $292.32 million market cap., $400.84 million enterprise value.

Infosonics Corp. (IFON:NASDAQ) $0.90 11/7/2013

The company designs, develops, manufactures, and sells wireless telecommunication products and accessories to wireless carriers, distributors, retailers, dealer agents, resellers, and original equipment manufacturers. Sales were up 84% and the company posted a profit versus a loss over the same period last year (as reported in the most recent quarter), trading at 0.43 times sales, 0.79 times book, $12.77 million market cap., $10.87 million enterprise value.

Graham Corp. (GHM:NYSE MKT) $28.00 6/3/2013

The company designs, manufactures, and sells custom-built vacuum and heat transfer equipment to customers worldwide. Sales were up 53% and earnings were up 413% over the same period last year (as reported in the most recent quarter), trading at 25.23 times trailing earnings, 18.3 times forward earnings, 1.33 PEG ratio, 2.67 times sales, 3.01 times book, $5.17 per share in cash, $280 million market cap., $228 million enterprise value.

Insignia Systems, Inc. (ISIG:NASDAQ) $2.00 5/1/2013

The company markets in-store advertising products, programs, and services to consumer packaged goods manufacturers and retailers in the United States and internationally. Sales were up 85% and the company posted a profit versus a loss over the same period last year (as reported in the most recent quarter), trading at 1.35 times sales, 1.03 times book, $1.49 per share in cash, $27.3 million market cap., $6.9 million enterprise value.

Cirrus Logic, Inc. (CRUS:NASDAQ) $19.62 4/25/2013

The company a fabless semiconductor company, develops signal processing integrated circuits (ICs) for audio and energy markets. Sales were up 87% and earnings were up 64% over the same period last year (as reported in the most recent quarter), trading at 8.39 times trailing earnings, 6.56 times forward earnings, 0.29 PEG ratio 1.77 times sales, 2.28 times book, $2.30 per share in cash, $1.26 billion market cap., $996 million enterprise value.

Charles & Colvard, Ltd. (CTHR:NASDAQ) $4.00 4/25/2013

The company manufactures, markets, and distributes moissanite jewels and finished jewelry featuring moissanite worldwide. Sales were up 56% and the company posted a profit versus a loss over the same period last year (as reported in the most recent quarter), trading at 18.18 times trailing earnings, 3.5 times sales, 1.39 times book, $0.63 per share in cash, $79 million market cap., $66 million enterprise value.

OmniVision Technologies, Inc. (OVTI:NASDAQ) $15.41 2/28/2013

The company engages in designing, developing, and marketing semiconductor image-sensor devices worldwide. Sales were up 129% and earnings were up 300% over the same period last year (as reported in the most recent quarter), trading at 53.51 times trailing earnings, 9.76 times forward earnings, 0.79 times sales, 1.04 times book, $2.60 per share in cash, $830.26 million market cap., $743.84 million enterprise value.

Tangoe, Inc. (TNGX:NASDAQ) $16.06 2/13/2013

The company provides communications lifecycle management software and services primarily to large and medium-sized businesses, and other organizations worldwide. Sales were up 113% and earnings were up 50% over the same period last year (as reported in the most recent quarter), trading at 292 times trailing earnings, 25.09 times forward earnings, 4.35 times sales, 4.11 times book, $1.47 per share in cash, $608 million market cap., $581 million enterprise value.

Chase Corporation (CCF:NYSE) $18.46 1/10/2013

The company engages in the manufacture and sale of protective materials for various applications in the United States and internationally. Sales were up 50% and earnings were up 66% over the same period last year (as reported in the most recent quarter), trading at 17.92 times trailing earnings, 9.98 times forward earnings, 1.22 times sales, 1.69 times book, $1.67 per share in cash, $167.34 million market cap., $222.17 million enterprise value.

WSI Industries, Inc. (WSCI:NASDAQ) $6.61 1/3/2013

The company engages in the precision contract metal machining business in the United States. Sales were up 43% and earnings were up 275% over the same period last year (as reported in the most recent quarter), trading at 12.08 times trailing earnings, 0.55 times sales, 1.54 times book, $1.00 per share in cash, $17.88 million market cap., $21.82 million enterprise value.

Under $5.00 Hitting 12 Month Highs:

Date Name



11/6/2013 U.S. Energy Corp.



11/6/2013 Top Image Systems, Ltd.



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11/6/2013 Oclaro, Inc.



11/5/2013 U.S. Energy Corp.



11/5/2013 Sharps Compliance Corp.



11/4/2013 Dehaier Medical Systems Limited



11/1/2013 Digirad Corporation



11/1/2013 Lionbridge Technologies, Inc.



10/31/2013 ZBB Energy Corporation



Under $5.00 With Significant Insider Buying:

Date Name



Transaction Value

11/6/2013 ChemoCentryx, Inc.




11/6/2013 Lionbridge Technologies, Inc.




11/6/2013 Pershing Gold Corporation




11/6/2013 Crossroads Systems, Inc.




11/5/2013 China Marine Food Group Ltd.




11/5/2013 Oncothyreon Inc.




11/5/2013 Pershing Gold Corporation




11/5/2013 Falconstor Software Inc.




11/4/2013 Ambassadors Group Inc.




11/4/2013 Lionbridge Technologies, Inc.




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Companies included in WSR's Focus List are
a compilation of WSR's Featured Companies and the companies included in
its model Microcap Portfolio.

Date Name




10/3/2013 American Eagle Energy Corp.



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9/26/2013 FAB Universal Corporation



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9/6/2013 Digirad Corp.



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8/29/2013 The Hackett Group, Inc.



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8/23/2013 Panache Beverage, Inc.



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8/22/2013 Auxilio, Inc.



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8/22/2013 FAB Universal Corp.



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8/22/2013 EnviroStar, Inc.



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8/8/2013 Radio Shack Corp.



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Ecosphere Technologies, Inc. is a water engineering, technology licensing and innovative U.S. manufacturing company that develops environmental water treatment solutions for industrial markets throughout the world. The Company is a leader in emerging advanced oxidation processes and has an extensive portfolio of intellectual property that includes five United States patents for the Ecosphere Ozonix(R) process. The patented Ecosphere Ozonix(R) process is a revolutionary advanced oxidation process that is currently being used by energy exploration companies to reduce costs, increase treatment efficiencies and eliminate liquid chemicals from wastewater treatment operations around the United States.

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FieldPoint Petroleum Corp.
The Company acquires, operates, and develops oil and gas properties located in Texas and Wyoming. FieldPoint Petroleum looks to continue expanding in Texas and Wyoming, as well as in other Rocky Mountain and mid-continent states such as Montana, North Dakota and Oklahoma.

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Gray Fox Petroleum Corp.
Gray Gox Petroleum is an oil and gas exploration and development company focused on expanding the 135+ year tradition of Western US energy production.
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Liberator Medical Holdings, Inc.
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Mimvi, Inc.
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Panache Beverages, Inc.
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Water Technologies Intl., Inc.
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