Lincolnway Energy, LLC announced its unaudited financial results for the three months ended December 31, 2016

NEVADA, Iowa, Feb. 14, 2017 /PRNewswire/ --

Results for the 1st Quarter Fiscal Year 2017

Lincolnway reported net income of $2.4 million, or $57.49 per unit, for the three months ended December 31, 2016, compared to net loss of $1.4 million, or -$32.46 per unit, for the three months ended December 31, 2015.

Gross profit for the three months ended December 3, 2016 was $3.2 million, compared to a gross loss of $.6 million for the three months ended December 31, 2015.

EBITDA, which is defined as earnings before interest, income taxes, depreciation, and amortization, was $3.4 million for the three months ended December 31, 2016, compared to $.3 million for the three months ended December 31, 2015.

Eric Hakmiller, Lincolnway's President and CEO stated, "We are very happy with the progress of our business in the last year.  We have focused on improving the technology in the facility and we are beginning to see the results.  This is the third quarter in a row of solid production and along with a relatively steady margin environment; this has led to steadily improving profitability."

About Lincolnway Energy, LLC:

Lincolnway is located on approximately 160 acres in Nevada, Iowa, operating a 50 million gallon per year ethanol plant. Lincolnway began producing ethanol in May, 2006.

This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "1995 Act").  Such statements are identified by terms such as "may," "will," "should," "expects," "anticipates," "estimates," "plans," or similar language.  In connection with these safe-harbor provisions, Lincolnway has identified in its Annual Report on Form 10-K important factors that could cause actual results to differ materially from those contained in any forward-looking statement made by or on behalf of Lincolnway, including, without limitation, the risk and nature of Lincolnway's business, and the effects of general economic conditions on Lincolnway. The forward-looking statements contained in this Press Release are included in the safe harbor protection provided by Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Lincolnway further cautions that such factors are not exhaustive or exclusive. Lincolnway does not undertake to update any forward-looking statement which may be made from time to time by or on behalf of Lincolnway.

Financial Results

Management uses EBITDA, a non-GAAP measure, to measure Lincolnway's financial performance and to internally manage its business. Management believes that EBITDA provides useful information to investors as a measure of comparison with peer and other companies. EBITDA should not be considered an alternative to, or more meaningful than, net income or cash flow as determined in accordance with generally accepted accounting principles. EBITDA calculations may vary from company to company. Accordingly, our computation of EBITDA may not be comparable with a similarly-titled measure of another company.

SOURCE Lincolnway Energy, LLC

Related Links

http://www.lincolnwayenergy.com