| QUARTERLY FINANCIAL DATA (UNAUDITED) |
The Company’s
quarterly results of operations for the years ended December 31, 2015 and 2014 are as follows (in thousands). Certain of these
calculations has been revised from the calculations previously reported to reflect the participating securities.
| |
|
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 |
) |
| |
|
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 |
) |
| Income allocated to participating securities |
|
$ |
– |
|
|
$ |
(462 |
) |
|
$ |
(100 |
) |
|
$ |
(314 |
) |
| Net income (loss) available to common stockholders |
|
$ |
(11,138 |
) |
|
$ |
14,795 |
|
|
$ |
3,606 |
|
|
$ |
11,885 |
|
| Income (loss) per common share: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Basic |
|
$ |
(0.69 |
) |
|
$ |
0.74 |
|
|
$ |
0.16 |
|
|
$ |
0.49 |
|
| Diluted |
|
$ |
(0.69 |
) |
|
$ |
0.65 |
|
|
$ |
0.15 |
|
|
$ |
0.48 |
|
|