Pre-Market Action (BONE, CE, HERO, LAYN, GEL)
Bacterin International Holdings Inc (NYSEAMEX: BONE) announced its financial results for the fourth quarter and full year ended December 31, 2011. The company’s fourth quarter revenue increased 72% to $9.1 million, as compared to the $5.3 million for the year ago period. Operating loss fell 21% to $2.7 million, as compared to a loss of $3.4 million in the same quarter last year. Shares of are trading lower by 4% in the pre-market session.
Celanese Corporation (NYSE: CE) announced that it has received key government approvals necessary to proceed with its previously announced plans to modify and enhance its existing integrated acetyl facility at the Nanjing Chemical Industrial Park to produce ethanol for industrial uses.
Hercules Offshore, Inc. (NASDAQ: HERO) has priced an underwritten public offering of 20 million shares of common stock at a public offering price of $5.10 per share. The offering is expected to close on March 28, 2012. The Company plans to use 50% of the net proceeds from the offering, including the proceeds from any exercise of the underwriters’ over-allotment option, to repay indebtedness outstanding. Shares of HERO are up 1.73% to $5.30 in the pre-open session.
Genesis Energy, L.P. (NYSE: GEL) announced the commencement of a registered underwritten public offering of 5 million common units representing limited partner interests. The company expects to use the net proceeds from the offering for general partnership purposes, including the repayment of outstanding borrowings under our revolving credit facility. Shares of the company are down over 45.
Layne Christensen Company (NASDAQ:LAYN) lost over 11% after the company said that it projects a loss of of $3.59-$4.09 including the charge, and a FY12 loss of $1.93-$2.41 including the charge. On an adjusted basis, Q4 will be about breakeven. The company announced it is exploring strategic options for its Energy Exploration unit. Layne Christensen’s internal probe suggests some improper payments were made.