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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.

For the nine months ended September 30, 2011, net sales were $659.4 million, compared to $194.1 million in the same period in 2010. For the nine months ended September 30, 2011, net income available to common stockholders was $4.2 million, compared to $83.2 million in the same period in 2010, which included a non-cash gain from bankruptcy exit of $119.4 million and a loss on the company’s investment in Front Range Energy, LLC of $12.1 million. Adjusted EBITDA for the nine months ended September 30, 2011 was $5.6 million, an improvement from a loss of $12.3 million for the nine months ended September 30, 2010.

Pacific Ethanol, Inc. is the leading marketer and producer of low-carbon renewable fuels in the Western United States. Pacific Ethanol also sells co-products, including wet distillers grain (WDG), a nutritional animal feed. Serving integrated oil companies and gasoline marketers who blend ethanol into gasoline, Pacific Ethanol 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.

More about PEIX at www.pacificethanol.net.

 

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Kraft Foods Inc. (NYSE:KFT) will release its third quarter financial results on Wednesday, Nov. 2, 2011, at 4 p.m. EDT and will host a conference call at 5 p.m. EDT that day. Investors and analysts may participate via phone by calling 1-800-322-9079 from the United States and 1-973-582-2717 from other locations. To ensure timely access, participants should dial in approximately 10 minutes before the call starts. A listen-only webcast will be provided at www.kraftfoodscompany.com.

Kraft Foods Inc., together with its subsidiaries, manufactures and markets packaged food products worldwide.

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Marathon Petroleum Corporation (NYSE:MPC) declared a third quarter dividend of 25 cents per share on Marathon Petroleum Corporation common stock, a 25 percent increase in its quarterly dividend. The dividend is payable Dec. 12, 2011 to stockholders of record as of the close of business Nov. 16, 2011.

Marathon Petroleum Corporation, together with its subsidiaries, engages in refining, transporting, and marketing petroleum products primarily in the United States and internationally.

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Cleantech Transit Inc (CLNO)

Cleantech Transit Inc. was founded to capitalize on technology advances and manufacturing opportunities in the growing clean energy public transportation sector. Cleantech Transit Inc has expanded its focus to invest directly in specific green projects that could maximize shareholder value. Recognizing the many economic and operational advances of converting wood waste into renewable sources of energy, Cleantech Transit Inc. has selected to invest in Phoenix Energy (www.phoenixenergy.net). This project could benefit the Company’s manufacturing clients worldwide.

Cleantech Transit, Inc. (CLNO) is pleased to announce it has met its funding requirement to secure the Company’s ability to earn in 25% of the 500KW Merced Project.

The Company is in the final stages of closing its initial interest in the Merced Project and is currently working on completing the necessary documentation and expects closing the transaction soon. As previously announced Cleantech has the option to earn up to 40% of the Merced Project and the Company plans to continue to work towards increasing its interest in the Merced Project as they move ahead.

The use of biofuel is not complicated. Compared to other forms of renewable energy (solar, wind, etc), biofuel is far more simple and easy to use. It does not require special equipment or a modification in all engines. Any automobile will not need complex changes. The biodiesel can be readily combined with conventional petroleum diesel in your fuel tank at any point in time.

For more information about CLNO, visit www.cleantechtransitinc.com

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Ball Corporation (NYSE:BLL) board of directors declared a cash dividend of 7 cents per share, payable Dec. 15, 2011, to shareholders of record on Dec. 1, 2011. Ball Corporation is a supplier of high quality packaging for beverage, food and household products customers, and of aerospace and other technologies and services, primarily for the U.S. government. Ball Corporation and its subsidiaries employ more than 14,500 people worldwide and reported 2010 sales of more than $7.6 billion. For the latest Ball news and for other company information, please visit http://www.ball.com. Ball Corporation will hold its quarterly conference call on the company’s results and performance on Oct. 27, 2011, at 9 a.m. Mountain time (11 a.m. Eastern), The North American toll-free number for the call is 800-268-2160. International callers should dial 303-223-2680.

Ball Corporation, together with its subsidiaries, supplies metal packaging to the beverage, food, and household products industries worldwide.

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