| Earnings Per Share [Text Block] |
The
following tables compute basic and diluted earnings per share
(in thousands, except per share data):
|
|
|
Three
Months Ended September 30, 2011
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
income attributed to Pacific Ethanol
|
|
$
|
4,352
|
|
|
|
|
|
|
|
|
Less: Preferred
stock dividends
|
|
|
(319
|
)
|
|
|
|
|
|
|
|
Basic
and diluted income per share:
|
|
|
|
|
|
|
|
|
|
|
|
Income
available to common stockholders
|
|
$
|
4,033
|
|
|
|
33,201
|
|
|
$
|
0.12
|
|
|
|
|
Three
Months Ended September 30, 2010
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
loss attributed to Pacific Ethanol
|
|
$
|
(12,118
|
)
|
|
|
|
|
|
|
|
|
|
Less:
Preferred stock dividends
|
|
|
(758
|
)
|
|
|
|
|
|
|
|
|
|
Basic
and diluted loss per share:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loss
available to common stockholders
|
|
$
|
(12,876
|
)
|
|
|
11,700
|
|
|
$
|
1.10
|
|
|
|
|
|
|
|
|
|
Nine
Months Ended September 30, 2011
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
income attributed to Pacific Ethanol
|
|
$
|
5,120
|
|
|
|
|
|
|
|
|
|
|
Less: Preferred
stock dividends
|
|
|
(946
|
)
|
|
|
|
|
|
|
|
|
|
Basic
income per share:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income
available to common stockholders
|
|
$
|
4,174
|
|
|
|
21,230
|
|
|
$
|
0.20
|
|
|
Add:
Stock options
|
|
|
—
|
|
|
|
98
|
|
|
|
|
|
|
Diluted
income per share:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income
available to common stockholders
|
|
$
|
4,174
|
|
|
|
21,328
|
|
|
$
|
0.20
|
|
|
|
|
Nine
Months Ended September 30, 2010
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
income attributed to Pacific Ethanol
|
|
$
|
85,539
|
|
|
|
|
|
|
|
|
Less: Preferred
stock dividends
|
|
|
(2,346
|
)
|
|
|
|
|
|
|
|
Basic
income per share:
|
|
|
|
|
|
|
|
|
|
|
|
Income
available to common stockholders
|
|
$
|
83,193
|
|
|
|
9,947
|
|
|
$
|
8.36
|
|
|
Add: Preferred
stock dividends
|
|
|
2,346
|
|
|
|
1,152
|
|
|
|
|
|
|
Diluted
income per share:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income
available to common stockholders
|
|
$
|
85,539
|
|
|
|
11,099
|
|
|
$
|
7.71
|
|
There
were an aggregate of 6,859,000 and 671,000 potentially
dilutive weighted-average shares from convertible securities
outstanding for the three and nine months ended September 30,
2011, respectively. These convertible securities were not
considered in calculating diluted net income per share for
the three and nine months ended September 30, 2011, as their
effect would have been anti-dilutive.
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