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-Revenue Expected to Exceed $20 Million-
HOUSTON–(BUSINESS WIRE)–Vertex
Energy, Inc. (OTCBB:VTNR), a leader in the aggregation, re-refining
and processing of distressed petroleum streams such as used oil,
transmix, fuel oils and off-specification commercial chemical products,
today announced it expects revenue to exceed $20 million and gross
profit to surpass $2 million for the first quarter of 2011,
approximately 100 percent increases over the first quarter of 2010.
Benjamin P. Cowart, CEO and founder of Vertex Energy, Inc. stated, “We
are encouraged that our preliminary results demonstrate that the
positive momentum we experienced during the fourth quarter 2010 has
continued into the first quarter of 2011. These increases were the
result of improved performance across all three of our business lines,
Black Oil, Refining Marketing and Thermal Chemical Extraction Process.
With a great start to the year, we are optimistic that 2011 will be
another successful year.”
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Article source: http://www.businesswire.com/news/home/20110425005417/en/Vertex-Energy-Expects-Quarter-2011-Revenue-Gross