Boston, MA 08/21/2014 (wallstreetpr) – Aemetis, Inc (NASDAQ:AMTX) announced its financial results for the second quarter. The revenues rose 21% to $57.2 million as compared to 2Q2013. The gross profit rose 21% to $57.2 million as compared to 2Q2013. In the current fiscal year, the Keyes, California plant was fully functional. The plant was idle during the same period last year. It resulted in the increase in gross profits.
The key highlights
Aemetis, Inc (NASDAQ:AMTX) reported the operating income at $7.8 million comparable to the loss of $400,000 in 2Q2013. The net income came at $2.7 million comparable to the loss of $9.6 million in 2Q2013. The ethanol sold in the second quarter stands at 14.9 million gallons comparable to 9.8 million gallons sale in 2Q2013. The ethanol sold in first two-quarter stands at 31 million gallons comparable to 12.1 million gallons in 2Q2013. Ethanol average sale price stands at $2.83 per gallon comparable to $2.80 in 1H2013.
The sale of wet distiller grains stands at approximately 101,900 tons compared to 73,000 tons in 2Q2013. The average sale price of WDG stands at $115 per ton in the second quarter as compared to $96 per ton in 2Q2013. In the first half, Aemetis, Inc (NASDAQ:AMTX) sale of WDG stands at 214,400 tons as compared to 90,200 tons in 1H2013. The average sale price of WDG stands at $106 per ton comparable to $99 per ton in 1H2013.
The management view
Aemetis, Inc (NASDAQ:AMTX) management disclosed its plans of future improvements in the conference call. Eric McAfee, Chairman and the CEO, said that Aemetis is looking to adopt the new technologies for transforming ethanol plants into bio-fuel facilities. It will use ethanol, CO2, distillers’ grain and corn oil for the production of higher margin products. Aemetis has plans to go for the acquisition of technologies. It will make possible for Aemetis to upgrade its projects and minimize the feedstock and energy costs. It will lower the risk and enhance the revenues for Aemetis in the coming quarters.
