XML 45 R14.htm IDEA: XBRL DOCUMENT v2.4.0.8
9. EARNINGS PER SHARE
 6 Months Ended
Jun. 30, 2014
Earnings Per Share [Abstract]  
9 .EARNINGS PER SHARE

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

 

   Three Months Ended June 30, 2014 
   Income Numerator   Shares Denominator   Per-Share Amount 
Net income attributed to Pacific Ethanol  $15,572           
Less: Preferred stock dividends   (315)          
Basic income per share:               
Income available to common stockholders  $15,257    19,903   $0.77 
Add: Warrants   –    2,373      
Diluted income per share:               
Income available to common stockholders  $15,257    22,276   $0.68 

 

   Three Months Ended June 30, 2013 
   Income Numerator   Shares Denominator   Per-Share Amount 
Net income attributed to Pacific Ethanol  $1,051           
Less: Preferred stock dividends   (315)          
Basic income per share:               
Income available to common stockholders  $736    10,853   $0.07 
Add: Convertible debt   61    1,282      
Diluted income per share:               
Income available to common stockholders  $797    12,135   $0.07 

 

   Six Months Ended June 30, 2014 
   Income Numerator   Shares Denominator   Per-Share Amount 
Net income attributed to Pacific Ethanol  $4,746           
Less: Preferred stock dividends   (627)          
Basic income per share:               
Income available to common stockholders  $4,119    18,053   $0.23 
Add: Warrants   –    2,461      
Diluted income per share:               
Income available to common stockholders  $4,119    20,514   $0.20 

 

   Six Months Ended June 30, 2013 
   Loss Numerator   Shares Denominator   Per-Share Amount 
Net loss attributed to Pacific Ethanol  $(4,403)          
Less: Preferred stock dividends   (627)          
Basic and diluted loss per share:               
Loss available to common stockholders  $(5,030)   10,462   $(0.48)

 

There were an aggregate of 621,000 and 617,000 potentially dilutive weighted-average shares from the Company’s outstanding convertible Series B Preferred Stock for the three and six months ended June 30, 2014, respectively. These convertible securities were not considered in calculating diluted net income (loss) per share for the three and six months ended June 30, 2013, as their effect would have been anti-dilutive.