Rex Stores moves to Q4 profit, plans name change

Dayton, Ohio Rex Stores Corp. returned to a fiscal fourth-quarter profit Thursday and said it plans to change its name to Rex American Resources Corp.

The former consumer-electronics retailer that has become an investor in alternative energy initiatives earned $7.3 million for the period ended Jan. 31, compared with a loss of $5.4 million a year ago.

Total revenue more than tripled to $77.2 million from $19.9 million as alternative energy revenue surged to $76.9 million from $19.8 million.

Rex exited its retail component earlier in fiscal 2009 and classified it as discontinued operations.

For the year, Rex reported a profit of $8.7 million, compared with a loss of $3.3 million in the prior year.

Full-year revenue more than doubled to $170.3 million from $68.6 million.

Rex's proposed name change will be up for shareholder approval at the company's annual meeting on June 9. If approved, the company will change its ticker symbol to "REX."