| QUARTERLY FINANCIAL DATA (UNAUDITED). |
| 17. |
QUARTERLY FINANCIAL DATA (UNAUDITED). |
The
Company’s quarterly results of operations for the years ended December 31, 2017 and 2016 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, 2017: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net
sales |
|
$ |
386,340 |
|
|
$ |
405,202 |
|
|
$ |
445,442 |
|
|
$ |
395,271 |
|
| Gross
profit (loss) |
|
$ |
(5,773 |
) |
|
$ |
1,653 |
|
|
$ |
12,065 |
|
|
$ |
(2,014 |
) |
| Income
(loss) from operations |
|
$ |
(11,223 |
) |
|
$ |
(7,109 |
) |
|
$ |
3,345 |
|
|
$ |
(10,598 |
) |
| Net
loss attributed to Pacific Ethanol, Inc. |
|
$ |
(12,636 |
) |
|
$ |
(8,841 |
) |
|
$ |
(202 |
) |
|
$ |
(13,285 |
) |
| Preferred
stock dividends |
|
$ |
(312 |
) |
|
$ |
(315 |
) |
|
$ |
(319 |
) |
|
$ |
(319 |
) |
| Net
loss available to common stockholders |
|
$ |
(12,948 |
) |
|
$ |
(9,156 |
) |
|
$ |
(521 |
) |
|
$ |
(13,604 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Basic
and diluted loss per common share |
|
$ |
(0.31 |
) |
|
$ |
(0.22 |
) |
|
$ |
(0.01 |
) |
|
$ |
(0.32 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
First
Quarter |
|
|
Second
Quarter |
|
|
Third
Quarter |
|
|
Fourth
Quarter |
|
| December
31, 2016: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net
sales |
|
$ |
342,373 |
|
|
$ |
422,860 |
|
|
$ |
417,806 |
|
|
$ |
441,719 |
|
| Gross
profit |
|
$ |
1,668 |
|
|
$ |
18,355 |
|
|
$ |
7,021 |
|
|
$ |
27,314 |
|
| 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 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Basic
and diluted income (loss) per common share |
|
$ |
(0.32 |
) |
|
$ |
0.11 |
|
|
$ |
(0.09 |
) |
|
$ |
0.30 |
|
|