Shares of Pacific Ethanol Inc. (NASDAQ: PEIX), a marketer and producer of low carbon renewable fuels in the Western U.S., dropped in Tuesday’s trading session. The small-cap stock of Pacific Ethanol ended the day 1.61% lower at $1.22 on Tuesday. Despite the drop, Pacific Ethanol shares are up more than 44% in the last one month.
In its most recent quarter (Q3), Pacific Ethanol reported net sales of $271.6 million, a record. For the same period in the previous year, the company had reported net sales of $46 million. The company sold 122.6 million gallons in the third quarter of 2011, representing an increase of 22% on a sequential basis and 71% on a year-over-year basis.
Pacific Ethanol’s gross profit for third quarter of 2011 was $8.2 million, compared with $4 million reported in the same period in the previous year.
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