|
The following
tables compute basic and diluted earnings per share (in thousands, except per share data):
| |
|
Three Months Ended
June 30, 2014 |
|
| |
|
Income Numerator |
|
|
Shares Denominator |
|
|
Per-Share Amount |
|
| Net income attributed to Pacific
Ethanol |
|
$ |
15,572 |
|
|
|
|
|
|
|
|
|
| Less: Preferred stock dividends |
|
|
(315 |
) |
|
|
|
|
|
|
|
|
| Basic income per share: |
|
|
|
|
|
|
|
|
|
|
|
|
| Income available to common stockholders |
|
$ |
15,257 |
|
|
|
19,903 |
|
|
$ |
0.77 |
|
| Add: Warrants |
|
|
– |
|
|
|
2,373 |
|
|
|
|
|
| Diluted income per
share: |
|
|
|
|
|
|
|
|
|
|
|
|
| Income
available to common stockholders |
|
$ |
15,257 |
|
|
|
22,276 |
|
|
$ |
0.68 |
|
| |
|
Three Months Ended
June 30, 2013 |
|
| |
|
Income Numerator |
|
|
Shares Denominator |
|
|
Per-Share Amount |
|
| Net income attributed to Pacific
Ethanol |
|
$ |
1,051 |
|
|
|
|
|
|
|
|
|
| Less: Preferred stock dividends |
|
|
(315 |
) |
|
|
|
|
|
|
|
|
| Basic income per share: |
|
|
|
|
|
|
|
|
|
|
|
|
| Income available to common stockholders |
|
$ |
736 |
|
|
|
10,853 |
|
|
$ |
0.07 |
|
| Add: Convertible debt |
|
|
61 |
|
|
|
1,282 |
|
|
|
|
|
| Diluted income per
share: |
|
|
|
|
|
|
|
|
|
|
|
|
| Income available to common stockholders |
|
$ |
797 |
|
|
|
12,135 |
|
|
$ |
0.07 |
|
| |
|
Six Months Ended
June 30, 2014 |
|
| |
|
Income Numerator |
|
|
Shares Denominator |
|
|
Per-Share Amount |
|
| Net income attributed
to Pacific Ethanol |
|
$ |
4,746 |
|
|
|
|
|
|
|
|
|
| Less:
Preferred stock dividends |
|
|
(627 |
) |
|
|
|
|
|
|
|
|
| Basic income per share: |
|
|
|
|
|
|
|
|
|
|
|
|
| Income
available to common stockholders |
|
$ |
4,119 |
|
|
|
18,053 |
|
|
$ |
0.23 |
|
| Add:
Warrants |
|
|
– |
|
|
|
2,461 |
|
|
|
|
|
| Diluted income per
share: |
|
|
|
|
|
|
|
|
|
|
|
|
| Income
available to common stockholders |
|
$ |
4,119 |
|
|
|
20,514 |
|
|
$ |
0.20 |
|
| |
|
Six Months Ended
June 30, 2013 |
|
| |
|
Loss Numerator |
|
|
Shares Denominator |
|
|
Per-Share Amount |
|
| Net loss attributed
to Pacific Ethanol |
|
$ |
(4,403 |
) |
|
|
|
|
|
|
|
|
| Less:
Preferred stock dividends |
|
|
(627 |
) |
|
|
|
|
|
|
|
|
| Basic
and diluted loss per share: |
|
|
|
|
|
|
|
|
|
|
|
|
| Loss
available to common stockholders |
|
$ |
(5,030 |
) |
|
|
10,462 |
|
|
$ |
(0.48 |
) |
There were
an aggregate of 621,000 and 617,000 potentially dilutive weighted-average shares from the Company’s outstanding convertible
Series B Preferred Stock for the three and six months ended June 30, 2014, respectively. These convertible securities were not
considered in calculating diluted net income (loss) per share for the three and six months ended June 30, 2013, as their effect
would have been anti-dilutive.
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