The company's quarterly loss to common shareholders shrunk to $4.2 million, or 11 cents per share, from $5.1 million, or 18 cents per share during the same period in 2005. The company had 10.6 million more shares outstanding in the period than they did in the same quarter a year ago.
Results included charges of $3.9 million primarily related to non-cash compensation expenses.
Revenue more than doubled to $80.6 million from $36.1 million in the year-ago period.
Analysts polled by Thomson Financial forecast profit of 5 cents per share. Thomson estimates usually exclude special items. Wall Street forecast revenue at $69.2 million.
Pacific Ethanol said fuel sales in the quarter rose 70 percent to 31.7 million gallons from 19.1 million gallons during the same period a year earlier. The growth came from the completion of its facility in Madera, Calif., and the acquisition of a 42 percent interest in Front Range Energy LLC, which owns a plant in Colorado that is operating above capacity.
The price of fuel sold by the company increased by 37 cents per gallon to $2.26 from $1.98 per gallon.
