RiceBran Technologies Q1 Loss Narrows

(RTTNews) - RiceBran Technologies (RIBT, RIBTW) said that its net loss attributable to common stockholders for the first quarter 2014 narrowed to $1.9 million or a loss of $0.62 per share from $5.8 million or $5.57 per share in the first quarter of 2013.

Consolidated revenues for the quarter were $7.7 million, a 12% decline compared to last year's first quarter consolidated revenues of $8.7 million. The decline was a direct result of the planned idling of the Company's Irgovel facility in Brazil for 10 weeks in the first quarter to allow installation of equipment necessary to increase capacity at the rice bran bio-refinery by at least 50% to 9,000 metric tons per month.