Low Sulphur Gasoil 100mt Penul (NYSE AMEX:FFI)

fiscal year ended June 30, 2010 Highlights

• Revenue for the fiscal year ended June 30, 2010 was $60.7 million as compared to revenue of $72.9 million for the ten month period ending June 30, 2009, representing a $12.2 million decrease in revenue.   Revenue for the ten month period ending June 30, 2009 included $19.4 million of revenue from the Company's non-PEO subsidiaries that were sold effective November 30, 2008.
  
• Net income available to common stock shareholders for the fiscal year ended June 30, 2010 was $0.828 million or $0.06 per share fully diluted versus 2009 ten months earnings of $0.446 million or $0.03 per share fully diluted, representing a $0.382 million increase in net income available to common stock shareholders.  
  
• Working capital for the year ended June 30, 2010 was $1.212 million, as compared to working capital at June 30, 2009 of $(1.009) million, representing an increase of $2.221 million.  This increase was largely due to the cash flow generated by operations during the fiscal year ended June 30, 2010.
  
• The Company reported EBITDA of $1.8 million for the fiscal year ended June 30, 2010, as compared to EBITDA of $1.4 million for the ten months ended June 30, 2009, representing a $0.4 million increase in EBITDA for the current year.

"The previous year has been among the most difficult in our nation's economy in recent history," stated Tena Mayberry, President and CEO.  "Our achievement of doubling our earnings per share in this challenging economic environment has been the direct result of tremendous focus and effort by a strong management team.  We have successfully decreased our expenses while still maintaining the highest level of customer service, which has allowed us to achieve higher net income on comparable revenue compared to last year.  We have maintained an industry-leading client retention ratio by partnering with our customers to reduce cost and increase efficiency.  We look forward to future increased earnings as the recession slowly fades and unemployment decreases."