| QUARTERLY FINANCIAL DATA (UNAUDITED) |
The Company’s
quarterly results of operations for the years ended December 31, 2016 and 2015 are as follows (in thousands). Certain of these
calculations have been revised from the calculations previously reported to reflect the participating securities.
| |
|
First
Quarter |
|
|
Second
Quarter |
|
|
Third
Quarter |
|
|
Fourth
Quarter |
|
| December 31, 2016: |
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Net
sales |
|
$ |
342,373 |
|
|
$ |
422,860 |
|
|
$ |
417,806 |
|
|
$ |
441,719 |
|
| Gross
profit |
|
$ |
1,069 |
|
|
$ |
17,704 |
|
|
$ |
6,364 |
|
|
$ |
26,695 |
|
| Income
(loss) from operations |
|
$ |
(7,248 |
) |
|
$ |
11,556 |
|
|
$ |
393 |
|
|
$ |
18,808 |
|
| Net
income (loss) attributed to Pacific Ethanol, Inc. |
|
$ |
(13,226 |
) |
|
$ |
5,086 |
|
|
$ |
(3,518 |
) |
|
$ |
13,077 |
|
| Preferred
stock dividends |
|
$ |
(315 |
) |
|
$ |
(315 |
) |
|
$ |
(319 |
) |
|
$ |
(320 |
) |
| Income
allocated to participating securities |
|
$ |
– |
|
|
$ |
(71 |
) |
|
$ |
– |
|
|
$ |
(189 |
) |
| Net
income (loss) available to common stockholders |
|
$ |
(13,541 |
) |
|
$ |
4,700 |
|
|
$ |
(3,837 |
) |
|
$ |
12,569 |
|
| Income (loss) per common share: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Basic |
|
$ |
(0.32 |
) |
|
$ |
0.11 |
|
|
$ |
(0.09 |
) |
|
$ |
0.30 |
|
| Diluted |
|
$ |
(0.32 |
) |
|
$ |
0.11 |
|
|
$ |
(0.09 |
) |
|
$ |
0.30 |
|
| |
|
First
Quarter |
|
|
Second
Quarter |
|
|
Third
Quarter |
|
|
Fourth
Quarter |
|
| December 31, 2015: |
|
|
|
|
|
|
|
|
|
|
|
|
| Net
sales |
|
$ |
206,176 |
|
|
$ |
227,621 |
|
|
$ |
380,622 |
|
|
$ |
376,757 |
|
| Gross
profit (loss) |
|
$ |
(987 |
) |
|
$ |
6,254 |
|
|
$ |
(7,380 |
) |
|
$ |
9,523 |
|
| Income
(loss) from operations |
|
$ |
(5,892 |
) |
|
$ |
2,261 |
|
|
$ |
(14,826 |
) |
|
$ |
485 |
|
| Net
income (loss) attributed to Pacific Ethanol, Inc. |
|
$ |
(4,380 |
) |
|
$ |
1,010 |
|
|
$ |
(14,663 |
) |
|
$ |
(753 |
) |
| Preferred
stock dividends |
|
$ |
(312 |
) |
|
$ |
(315 |
) |
|
$ |
(319 |
) |
|
$ |
(319 |
) |
| Income
allocated to participating securities |
|
$ |
– |
|
|
$ |
(18 |
) |
|
$ |
– |
|
|
$ |
– |
|
| Net
income (loss) available to common stockholders |
|
$ |
(4,692 |
) |
|
$ |
677 |
|
|
$ |
(14,982 |
) |
|
$ |
(1,072 |
) |
| Income (loss) per common share: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Basic |
|
$ |
(0.19 |
) |
|
$ |
0.03 |
|
|
$ |
(0.36 |
) |
|
$ |
(0.03 |
) |
| Diluted |
|
$ |
(0.19 |
) |
|
$ |
0.03 |
|
|
$ |
(0.36 |
) |
|
$ |
(0.03 |
) |
|