Posts Tagged ‘peix’

Pacific Ethanol, Inc. (PEIX) reports record net sales in Q3

Monday, October 31st, 2011

Shares of renewable fuel producer Pacific Ethanol, Inc. (Nasdaq: PEIX) were up as much as 26 percent from Friday’s closing price in morning trading on Monday.

Last week, the Sacramento-based company PEIX announced record net sales for the third quarter. Sales grew to $271.6 million for the third quarter of 2011, up from net sales of $46 million a year ago. Net income in Q3 soared to $4 million, compared to a net loss of $12.9 million for the third quarter a year ago, which included a loss on the company’s investment in Front Range Energy, LLC of $12.1 million.

For the nine months ended September 30, 2011, net sales were $659.4 million, compared to $194.1 million in the same period in 2010. For the nine months ended September 30, 2011, net income available to common stockholders was $4.2 million, compared to $83.2 million in the same period in 2010, which included a non-cash gain from bankruptcy exit of $119.4 million and a loss on the company’s investment in Front Range Energy, LLC of $12.1 million.

“In the third quarter, we again delivered record net sales and total gallons sold driven by the continued execution of our diversified business strategy,” said Pacific Ethanol, Inc.’s president and CEO Neil Koehler in an October 26 press release. “We recorded the ninth consecutive quarter of growth in total gallons sold, bringing our compound annual growth rate to 75 percent over that period. Most importantly, we generated strong operating income and achieved profitability during the quarter.”

Shares of Pacific Ethanol PEIX are down about 38 percent over the past three months.

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GSL grows, CSCO trades, PEIX plummets

Thursday, January 6th, 2011

Global Ship Lease, Inc. (NYSE: GSL) grew 14.1 percent in price Thursday to $5.75. Volume of 1,242,177 shares proved better than five times its normal daily volume. GSL is a London-based a containership charter owner.

Cisco Systems Inc. (Nasdaq: CSCO) traded in 54,783,485 shares by late afternoon Thursday. While this put CSCO among the volume leaders, it was still below its daily average of 71,315,200. Prices for the stock gained 0.8 percent to $20.95. Verizon Wireless and Cisco today announced Verizon Wireless will be the first service provider to deliver a fourth-generation (4G) wireless version of Cisco Cius™, a purpose-built, mobile collaboration business tablet that will be available in Spring 2011.

Pacific Ethanol Inc. (Nasdaq: PEIX) fell 11.8 percent in Thursday trading to 91.69 cents. Volume for the stock was 6,410,502 shares, nearly triple its daily average. PEIX is leading West Coast marketer and producer of low-carbon renewable fuels.

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Pacific Ethanol, Inc. (PEIX) – Buzz Stock of the Day

Tuesday, August 17th, 2010

We first covered Pacific Ethanol, Inc. (Nasdaq: PEIX) on June 30, 2010, after the company announced that four of its wholly-owned subsidiaries had emerged from bankruptcy. Shares were up almost 60 percent on that day, from the previous day’s closing price.

Shares of Pacific Ethanol surged again on Tuesday, this time as much as 42 percent from the previous day’s closing price after the company posted earnings of $107.8 million or $1.43 per share for the three months ended June 30, compared to a loss of $28.2 million or 49 cents per share in the same period last year. The boost in earnings was primarily due a non-cash gain of $119 million, and an 88 percent increase in total gallons sold, offset by a  lower average price per gallon.
[–quote–]
Net sales in the quarter increased 9 percent to $76.8 million, compared to $70.1 million in the same quarter a year ago. The company also reduced its SG&A expenses by 49 percent, and improved adjusted EBITDA by $8.4 million, compared to the second quarter of 2009.

Pacific Ethanol’s CEO Neil Koehler described the second quarter as “pivotal” for the company. “We delivered sales growth, dramatically reduced operating expenses, and improved adjusted EBITDA,” he said in a statement. “We successfully led the production facilities out of bankruptcy effective June 29th, substantially reducing our debt and other liabilities by $295 million. During the quarter, we also reduced other debt by $9 million. In addition to strengthening our balance sheet, we reduced selling, general and administrative expenses to less than half of what they were for the same quarter last year, thus establishing a stable platform for growth.”

On June 29, 2010, PEI’s wholly-owned plant holding company, PEH, and its four plant subsidiaries exited bankruptcy and the ownership of PEH was transferred to certain lenders. As a result, PEI recorded a $119.4 million non-cash gain from the disposition of liabilities of $294.5 million net of assets of $175.1 million that were removed from its balance sheet. Simultaneously, PEI began operating under its newly announced operating and marketing agreements with the ethanol production facilities upon their emergence from bankruptcy.

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Buzz Stocks Week in Review – IDT, CWLZ, PEIX, ARNA

Friday, July 2nd, 2010

Average Weekly Gain: 37.3%


Monday: Our Buzz Stock of the Day on June 28, IDT Corp. (NYSE: IDT) had a great week. IDT, which blends a strange pairing of telecom and energy had positive momentumthroughout the week. Shares began their climb on Monday, after a CNBC interview in which CEO Howard Jonas outlined the company’s shale properties and oil extraction technology. IDT’s energy business, Genie Energy, holds IDT’s interests in the American Shale Oil, LLC (AMSO), a joint oil shale research and development venture in Colorado with Total, S.A.; and in Israel Energy Initiatives (IEI), which holds an exclusive shale oil exploration and production license in the Shfela region of Israel. According to Jonas, it costs IDT Corp. $25 per-barrel to extract oil from shale rock. This figure is about $10 less than ultra-deep water fuel extraction — the kind of extraction that was being used by British Petroleum (NYSE: BP) in the Gulf of Mexico.

Up as much as 57 percent since our post.

Tuesday: On Tuesday, we featured Cowlitz Bancorp. (Pink Sheets: CWLZ) as our Buzz Stock of the Day. Cowlitz shares were up about 25 percent from Monday’s close, in morning trading on Tuesday after the company announced that it presented an updated plan to regain compliance with two Nasdaq Listing Rules with which it is not in compliance and requested a 90-day exception to the continued listing standards. Unfortunately, Cowlitz was de-listed from the Nasdaq on Thursday, July 1. Cowlitz received a  delisting determination letter from Nasdaq due to the Company not being in compliance with the minimum 500,000 publicly held shares requirement set forth in Listing Rule 5550(a)(4), on May 12.

Wednesday: Shares of Pacific Ethanol, Inc. (Nasdaq: PEIX) surged almost 60 percent on Wednesday, after the company announced that four of its subsidiaries had emerged out of bankruptcy. The plant subsidiaries, which are now owned by a newly formed holding company, will continue to be staffed, managed and operated by Pacific Ethanol under a fee and profit-sharing arrangement negotiated with the owners of the newly formed holding company. Pacific Ethanol, Inc. eliminated approximately $290 million in debt and other liabilities from its balance sheet. The bankruptcy did not affect the Company’s ownership structure and the Company continues to be owned by its existing common and preferred stockholders.
Up as much as 31 percent since our post.

Thursday: Arena Pharmaceuticals, Inc. (Nasdaq: ARNA) was up 20 percent from Wednesday’s close, in morning trading on Thursday after the company announced that Japanese drug maker, Eisai, Inc. will market Arena’s obesity treatment lorcaserin in the U.S. The U.S. Food and Drug Administration is already reviewing lorcaserin, and a decision is expected on Oct. 22. The main concern with lorcaserin is that patients treated with the drug in two pivotal phase III studies didn’t lose much weight — a little more than 3% on a placebo adjusted basis. The biggest plus in lorcaserin’s corner is the drug’s safety and tolerability, which appear better than competing drugs.
Up as much as 24 percent since our post.

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Pacific Ethanol, Inc. (PEIX) – Buzz Stock of the Day

Wednesday, June 30th, 2010

Shares of Pacific Ethanol, Inc. (Nasdaq: PEIX) were up almost 60 percent from Tuesday’s close in morning trading on Wednesday, after the company said that four of its wholly-owned  subsidiaries had emerged from bankruptcy.

[–quote–]

“We believe that our business is well positioned for growth,” said Pacific Ethanol president and CEO, Neil Koehler in a statement. “With the California plants capable of producing the lowest carbon ethanol in the United States, we are now focused on a plan to restart these facilities to provide much needed ethanol to meet California’s Low Carbon Fuel Standard.”

The plant subsidiaries, which are now owned by a newly formed holding company, will continue to be staffed, managed and operated by Pacific Ethanol under a fee and profit-sharing arrangement negotiated with the owners of the newly formed holding company.

Pacific Ethanol, Inc. eliminated approximately $290 million in debt and other liabilities from its balance sheet. The bankruptcy did not affect the Company’s ownership structure and the Company continues to be owned by its existing common and preferred stockholders. The Company also has an exclusive option to purchase up to a 25 percent equity interest in the new holding company for up to $30 million in cash, which is exercisable for a period of 90 days from June 29, 2010.

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