Pacific Ethanol reports highest ever quarterly sales

In California, Pacific Ethanol reported the highest quarterly revenues and gallons sold in the company’s history, recording its eighth consecutive quarter of growth in gallons sold, delivering a compound annual growth rate of 70 percent. For the three months ending June 30, Net sales were at an all-time high of $214.6 million for the second quarter of 2011, compared to $76.8 million for the second quarter of 2010. Total gallons sold were 100.6 million for the second quarter of 2011, an increase of 54% over the 65.4 million gallons sold in the second quarter of 2010. Gross profit was $1.3 million for the second quarter of 2011, compared to a gross loss of $2.7 million in the second quarter of 2010.