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Pacific Ethanol, Inc. Reports Third Quarter 2011 Financial Results

Achieved record net sales and total gallons sold for the quarter

Sequential net sales growth of 27%

Sequential increase in total gallons sold of 22%

Grew operating income to $4.7 million from $1.2 million in the third quarter of 2010

Increased EPS to $0.12 from a loss of $1.10 in the third quarter of 2010

Improved Adjusted EBITDA to $2.9 million from $0.9 million in the third quarter of 2010




Pacific Ethanol, Inc. (Nasdaq:PEIX), the leading marketer and producer of low-carbon renewable fuels in the Western United States, reported its financial results for the three- and nine-month periods ended September 30, 2011.

Net sales were at an all-time high of $271.6 million for the third quarter of 2011, compared to $46.0 million for the third quarter of 2010. Total gallons sold were 122.6 million for the third quarter of 2011, a sequential increase of 22% from the second quarter of 2011 and an increase of 71% over the 71.5 million gallons sold in the third quarter of 2010. The increase in net sales was primarily driven by the fact that the company did not consolidate the results of the Pacific Ethanol plants in the third quarter of 2010. The increase in total gallons sold was primarily due to continued strength in the company's marketing business and a 54% increase in average sales price per gallon. In addition, the company's third quarter 2011 results include the impact of the Stockton plant's operations whereas it was idled during the third quarter of 2010.

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