Since the end of this quarter those returns have narrowed and we’ve begun to liquidate these higher inventory levels. Our plant has 16 million gallons or 380,000 of onsite storage and we took advantage of that holding inventories off the market.In addition, we also had several long term offsite storage agreements in place and use those as well. Our strong liquidity position allowed us to take advantage of this opportunity. Excluding the onetime settlement charge, which generated, we generated $1.1 million of operating income before depreciation or about $0.01 per gallon in the ethanol production segment, this is certainly the low mark for profitability in this segment for us.
Green Plains Renewable Energy's CEO Discusses Q1 2012 Results - Earnings Call Transcript
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