The increase for the third quarter was primarily attributed to the increase in selling prices of petroleum products, which generally reflected the increase in worldwide petroleum prices from period to period.
Net loss for the same quarter was $16.9m, while the company posted a net income of $17.3m in the same quarter of the prior year.
Earnings before interest, taxes, depreciation and amortization (EBITDA) for the three months ended May 31, 2010 and 2009 were $6.8m and $35m, respectively. This was a decrease in EBITDA of $41.8m from the prior year quarter.
EBITDA for the quarter was negatively impacted by the sharp decline in crude oil and product prices over a three week period during the month of May when NYMEX crude fell from $86 to $68 per barrel.
Net sales for the nine months ended May 31, 2010 and 2009 were $1.92bn and $1.70bn, respectively, which was an increase of $217.4m or 12.8% from the prior year period.
Net loss for the nine months ended May 31, 2010 was $61.5m and for the nine months ended May 31, 2009 net income was $17.3m, a decrease of $78.8m in net income from the prior nine month period.
EBITDA for the nine months ended May 31, 2010 and 2009 was $53.8m and $65.6m respectively, a decrease in EBITDA of $119.4m from the prior year nine month period.
