| 15. QUARTERLY FINANCIAL DATA |
The Company’s
unaudited quarterly results of operations for the years ended December 31, 2014 and 2013 are as follows (in thousands):
| |
|
First
Quarter |
|
|
Second
Quarter |
|
|
Third
Quarter |
|
|
Fourth
Quarter |
|
| December 31, 2014: |
|
|
|
|
|
|
|
|
|
|
|
|
| Net sales |
|
$ |
254,543 |
|
|
$ |
321,144 |
|
|
$ |
275,573 |
|
|
$ |
256,152 |
|
| Gross profit |
|
$ |
38,545 |
|
|
$ |
33,576 |
|
|
$ |
17,986 |
|
|
$ |
18,378 |
|
| Income from operations |
|
$ |
34,875 |
|
|
$ |
29,261 |
|
|
$ |
13,594 |
|
|
$ |
13,647 |
|
| Net income (loss) attributed
to Pacific Ethanol, Inc. |
|
$ |
(10,826 |
) |
|
$ |
15,572 |
|
|
$ |
4,025 |
|
|
$ |
12,518 |
|
| Preferred stock dividends |
|
$ |
(312 |
) |
|
$ |
(315 |
) |
|
$ |
(319 |
) |
|
$ |
(319 |
) |
| Net
income (loss) available to common stockholders |
|
$ |
(11,138 |
) |
|
$ |
15,257 |
|
|
$ |
3,706 |
|
|
$ |
12,199 |
|
| Income (loss) per common share: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Basic |
|
$ |
(0.69 |
) |
|
$ |
0.77 |
|
|
$ |
0.16 |
|
|
$ |
0.51 |
|
| Diluted |
|
$ |
(0.69 |
) |
|
$ |
0.68 |
|
|
$ |
0.15 |
|
|
$ |
0.50 |
|
| |
|
First
Quarter |
|
|
Second
Quarter |
|
|
Third
Quarter |
|
|
Fourth
Quarter |
|
| December 31, 2013: |
|
|
|
|
|
|
|
|
|
|
|
|
| Net sales |
|
$ |
225,459 |
|
|
$ |
233,808 |
|
|
$ |
233,880 |
|
|
$ |
215,290 |
|
| Gross profit |
|
$ |
846 |
|
|
$ |
6,965 |
|
|
$ |
3,523 |
|
|
$ |
21,596 |
|
| Income (loss) from operations |
|
$ |
(3,159 |
) |
|
$ |
3,832 |
|
|
$ |
1,012 |
|
|
$ |
17,224 |
|
| Net income (loss) attributed
to Pacific Ethanol, Inc. |
|
$ |
(5,454 |
) |
|
$ |
1,051 |
|
|
$ |
(4,971 |
) |
|
$ |
8,593 |
|
| Preferred stock dividends |
|
$ |
(312 |
) |
|
$ |
(315 |
) |
|
$ |
(319 |
) |
|
$ |
(319 |
) |
| Net
income (loss) available to common stockholders |
|
$ |
(5,766 |
) |
|
$ |
736 |
|
|
$ |
(5,290 |
) |
|
$ |
8,274 |
|
| Loss per common share: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Basic |
|
$ |
(0.57 |
) |
|
$ |
0.07 |
|
|
$ |
(0.40 |
) |
|
$ |
0.55 |
|
| Diluted |
|
$ |
(0.57 |
) |
|
$ |
0.07 |
|
|
$ |
(0.40 |
) |
|
$ |
0.54 |
|
|