18. QUARTERLY FINANCIAL DATA (UNAUDITED)

12 Months Ended

Dec. 31, 2016

Quarterly Financial Information Disclosure [Abstract]

QUARTERLY FINANCIAL DATA (UNAUDITED)

The Company’s quarterly results of operations for the years ended December 31, 2016 and 2015 are as follows (in thousands). Certain of these calculations have been revised from the calculations previously reported to reflect the participating securities.

	First Quarter			Second Quarter			Third Quarter			Fourth Quarter
December 31, 2016:
Net sales	$	342,373		$	422,860		$	417,806		$	441,719
Gross profit	$	1,069		$	17,704		$	6,364		$	26,695
Income (loss) from operations	$	(7,248	)	$	11,556		$	393		$	18,808
Net income (loss) attributed to Pacific Ethanol, Inc.	$	(13,226	)	$	5,086		$	(3,518	)	$	13,077
Preferred stock dividends	$	(315	)	$	(315	)	$	(319	)	$	(320	)
Income allocated to participating securities	$	–		$	(71	)	$	–		$	(189	)
Net income (loss) available to common stockholders	$	(13,541	)	$	4,700		$	(3,837	)	$	12,569
Income (loss) per common share:
Basic	$	(0.32	)	$	0.11		$	(0.09	)	$	0.30
Diluted	$	(0.32	)	$	0.11		$	(0.09	)	$	0.30

	First Quarter			Second Quarter			Third Quarter			Fourth Quarter
December 31, 2015:
Net sales	$	206,176		$	227,621		$	380,622		$	376,757
Gross profit (loss)	$	(987	)	$	6,254		$	(7,380	)	$	9,523
Income (loss) from operations	$	(5,892	)	$	2,261		$	(14,826	)	$	485
Net income (loss) attributed to Pacific Ethanol, Inc.	$	(4,380	)	$	1,010		$	(14,663	)	$	(753	)
Preferred stock dividends	$	(312	)	$	(315	)	$	(319	)	$	(319	)
Income allocated to participating securities	$	–		$	(18	)	$	–		$	–
Net income (loss) available to common stockholders	$	(4,692	)	$	677		$	(14,982	)	$	(1,072	)
Income (loss) per common share:
Basic	$	(0.19	)	$	0.03		$	(0.36	)	$	(0.03	)
Diluted	$	(0.19	)	$	0.03		$	(0.36	)	$	(0.03	)