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Tuesday November 14, 11:59 am Eastern Time
Press Release
SOURCE: High Plains Corporation
High Plains Honored for Growth; Projects Strong
Fiscal Year Earnings
WICHITA, Kan., Nov. 14 /PRNewswire/ -- High Plains Corporation (Nasdaq: HIPC - news) was recently named one of the
50 fastest-growing technology companies in Kansas and Western Missouri by Deloitte & Touche. At the ``Fast 50'' awards
ceremony in Kansas City, High Plains was recognized for the second year in a row for its 81 percent revenue growth from
fiscal 1995 to fiscal 1999.
Gary Smith, President and CEO, praised the total organization for their efforts in making this award possible. ``When I came
on board two and a half years ago, we were posting $85 million in annual sales. Passing $109 million in sales this last fiscal
year was a special milestone. With strong ethanol markets and our diversification efforts, we expect sales to continue to
increase in the future. Not only are fuel ethanol prices up, but sales volumes of our industrial grade ethanol for October alone
are over 75 percent of the industrial sales for the entire July-September quarter, and we believe that trend will continue
throughout the current quarter and into the next,'' stated Smith.
High Plains reported sales of $29,181,796 for its fiscal first quarter ended September 30, 2000, and operating income
(income before interest and taxes) of $2,467,641, or $.15 per share. Net earnings after taxes were $1,297,597, or $.08 per
share. Smith projected that the balance of the year looks strong. ``Fundamentals are in place to allow us to project net
earnings in the $.12 to $.14 per share range for the current (second) fiscal quarter, and it appears that the third quarter should
be strong also,'' he continued. ``If grain, ethanol and natural gas prices continue in the ranges that we expect, even the fourth
quarter, which is historically our weakest, also should show good profitability,'' concluded Smith.
Based in Wichita, Kansas, High Plains Corporation is among the nation's largest producers of ethanol. The company operates
facilities in Colwich, Kansas; York, Nebraska; and Portales, New Mexico.
This press release contains forward-looking statements that are made pursuant to the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Investors are cautioned that all forward-looking statements involve risks and
uncertainties, including without limitation risks of fluctuations in feedstock commodity prices, changes in the market prices or
demand for motor fuels and Ethanol, legislative changes regarding air quality, fuel specifications or incentive programs, as well
as general market conditions, competition and pricing. The Company believes that forward-looking statements made by it are
based upon reasonable expectations. However, no assurances can be given that actual results will not differ materially from
those contained in such forward-looking statements. Additional information concerning these and other factors is contained in
the Company's Securities and Exchange Commission filings, including its annual 10-K, Proxy Statement and quarterly 10-Q
filings, copies of which are available from the Company without charge.
SOURCE: High Plains Corporation
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