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Pacific Ethanol Posts Second-Quarter Loss But Remains Optimistic
SUGAR LAND--August 12, 2008--Researched by Industrial Info Resources (Sugar Land, Texas)--In a conference call with shareholders on August 11, Pacific Ethanol Incorporated (NASDAQ:PEIX) (Sacramento, California), discussed profits for the second quarter of 2008. Despite a significant increase in sales, the company's profits drastically decreased during the quarter. The company achieved quarterly sales of $198 million, an increase of 74% from the second quarter of 2007. In terms of volume of ethanol sold, Pacific Ethanol sold 66.8 million gallons, a 52% increase from the 43.9 million gallons sold in the second quarter of 2007. Nevertheless, the company posted a net loss of $8.3 million this quarter. The second quarter of 2007 brought a net income of $2.2 million. Despite these setbacks, CEO Neil Koehler displayed a sense of optimism about the future. He discussed cutting-edge technological partnerships with European companies, including a project with U.K.-based Pursuit Dynamics plc (LON:PDX) (Weybridge) to improve starch conversion efficiency.
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