Gross loss was $4.9 million for the second quarter of 2012, compared to gross profit of $1.3 million in the second quarter of 2011. The decrease is attributable to unfavorable margins from the Pacific Ethanol plants. SG&A expenses were $3.1 million in the second quarter of 2012, compared to $4.1 million for the second quarter of 2011. Operating loss for the second quarter of 2012 was $8.0 million, compared to $2.8 million for the same period in 2011, primarily due to unfavorable commodity margins causing losses at the Pacific Ethanol plants.Loss available to common stockholders for the second quarter of 2012 was $2.9 million, compared to income of $435,000 for the second quarter of 2011. Adjusted EBITDA was negative $1.5 million for the second quarter of 2012, compared to Adjusted EBITDA of positive $1.2 million in the second quarter of 2011.
Pacific Ethanol, Inc. Reports Second Quarter 2012 Financial Results
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