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18. QUARTERLY FINANCIAL DATA (UNAUDITED) | 12 Months Ended
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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 | )

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