sector: Basic Materials ·
industry: Chemicals - Commodity ·
Pacific Ethanol, Inc. (Pacific Ethanol) produces and sells ethanol and its co-products, including wet distillers grain, and provides transportation, storage and delivery of ethanol through third-party service providers in the Western United States, primarily in California, Nevada, Arizona, Oregon, Colorado, Idaho and Washington. It has customer relationships throughout the Western United States and supplier relationships throughout the Western and Midwestern United States. Pacific Ethanol’s customers are integrated oil companies and gasoline marketers. It supplies ethanol to its customers either from its own ethanol production facilities located within the regions it serves, or with ethanol procured in bulk from other producers. In May 2009, the Company announced that its subsidiaries, which own its four wholly owned ethanol production facilities, have filed voluntary petitions under Chapter 11 of the United States Bankruptcy code in the District of Delaware.
BRIEF: For the six months ended 30 June 2009, Pacific Ethanol Inc.'s revenues fell 56% to $156.8M. Net loss applicable to common increased 13% to $52.9M. Revenues reflect decreased sales volumes due to significant reduction in production at our ethanol facilities. Higher loss reflects an increase in other expense, net, the presence of reorganization costs and the presence of gross loss vs. gross profit.
Pacific Ethanol, Inc.
400 Capitol Mall
Suite 2060
Sacramento CA 95814
P: +1916.4032123
F: +1916.4463937