Pacific Ethanol released its third-quarter results today. First, the good news: net sales increased compared to the third quarter 2007, from $118 million to $183 million this year. Now, the bad news: losses increased, too, from $5.9 million or .15/diluted share last year to $54.9 million or .98/diluted share this year.

The increase in losses despite the increase in sales was caused by a number of factors including high corn prices and the company’s … Read the rest