9. EARNINGS PER SHARE

9 Months Ended

Sep. 30, 2012

Earnings Per Share [Abstract]

Note 9 .EARNINGS PER SHARE

The following tables compute basic and diluted earnings per share (in thousands, except per share data):

	Three Months Ended September 30, 2012
	Loss Numerator			Shares Denominator		Per-Share Amount
Net loss attributed to Pacific Ethanol	$	(5,971	)
Less: Preferred stock dividends		(319	)
Basic and diluted loss per share:
Loss available to common stockholders	$	(6,290	)		115,677	$	(0.05	)

	Three Months Ended September 30, 2011
	Income Numerator			Shares Denominator		Per-Share Amount
Net income attributed to Pacific Ethanol	$	4,352
Less: Preferred stock dividends		(319	)
Basic and diluted income per share:
Income available to common stockholders	$	4,033			33,201	$	0.12

	Nine Months Ended September 30, 2012
	Loss Numerator			Shares Denominator		Per-Share Amount
Net loss attributed to Pacific Ethanol	$	(13,553	)
Less: Preferred stock dividends		(949	)
Basic and diluted loss per share:
Loss available to common stockholders	$	(14,502	)		96,203	$	(0.15	)

	Nine Months Ended September 30, 2011
	Income Numerator			Shares Denominator		Per-Share Amount
Net income attributed to Pacific Ethanol	$	5,120
Less: Preferred stock dividends		(946	)
Basic income per share:
Income available to common stockholders	$	4,174			21,230	$	0.20
Add: Stock options		–			98
Diluted income per share:
Income available to common stockholders	$	4,174			21,328	$	0.20

There were an aggregate of 3,800,000 and 3,300,000 potentially dilutive weighted-average shares from convertible securities outstanding for the three and nine months ended September 30, 2012, respectively. These convertible securities were not considered in calculating diluted net loss per share for the three and nine months ended September 30, 2012, as their effect would have been anti-dilutive.