DALLAS, Feb. 11, 2010 (GLOBE NEWSWIRE) -- InvestorSoup.com announces an investment report featuring Pacific Ethanol Inc. (Nasdaq:PEIX). The report includes financial, comparative and investment analyses, and pertinent industry information you need to know to make an educated investment decision.
The full report is available at: http://www.investorsoup.com/lp/PEIX
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Pacific Ethanol Inc. (PEIX) produces and sells ethanol and its co-products, including wet distillers grain, and provides transportation, storage and delivery of ethanol through third-party service providers in the Western United States, primarily in California, Nevada, Arizona, Oregon, Colorado, Idaho and Washington. It has customer relationships throughout the western United States and supplier relationships throughout the western and midwestern United States. PEIX's customers are integrated oil companies and gasoline marketers. It supplies ethanol to its customers either from its own ethanol production facilities located within the regions it serves, or with ethanol procured in bulk from other producers. In May 2009, the Company announced that its subsidiaries, which own its four wholly owned ethanol production facilities, have filed voluntary petitions under Chapter 11 of the U.S. Bankruptcy code in the District of Delaware.
Message Board: http://www.boardcentral.com/boards/PEIX
In the report, the analyst notes:
"The Company previously reported a non-cash asset impairment charge of $26.6 million related to its suspended Imperial Valley ethanol plant construction project, which represented $43.8 million in property and equipment less $17.2 million in construction-related liabilities. The Company increased its impairment charge by $14.3 million to a total of $40.9 million. The increase represents impairment on the gross amount of $43.8 million in property and equipment less estimated future undiscounted cash flows.
"PEIX announced in late January that it received a letter from The NASDAQ Stock Market on January 25, 2010, which contained a NASDAQ compliance determination that the Company has regained compliance with NASDAQ Listing Rule 5450(a)(1), which requires that listed securities maintain a minimum closing bid price of $1.00 per share"
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