Lake Area Corn Processors, Llc Reports Earnings Results for the First Quarter Ended March 31, 2021
May 15, 2021 at 12:56 am IST
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Lake Area Corn Processors, LLC announced earnings results for the first quarter ended March 31, 2021. For the first quarter, the company announced sales was USD 48.615 million compared to USD 32.456 million a year ago. Operating income was USD 5.706 million compared to operating loss of USD 9.189 million a year ago. Net income was USD 6.535 million compared to net loss of USD 10.475 million a year ago. Basic earnings per share from continuing operations was USD 0.22 compared to basic loss per share from continuing operations of USD 0.35 a year ago.
Lake Area Corn Processors, LLC owns and manages an ethanol plant that has a nameplate production capacity of 100 million gallons of ethanol per year through its wholly owned subsidiary Dakota Ethanol, L.L.C. The Companyâs segments include Production and Ethanol Producing Equity Method Investments. The Production segment includes the manufacture and marketing of fuel-grade ethanol and co-products of the ethanol production process. The Ethanol Producing Equity Method Investments segment consists of the aggregation of the Company's two equity method operating segments of investment in Guardian Hankinson, LLC, and investment in Ring-neck Energy & Feed, LLC. Fuel grade ethanol is its primary product. The Company also sells distillers grains and corn oil, the principal co-products of the ethanol production process. The ethanol plant produces at a rates more than 98 million gallons of ethanol per year.
LAKE AREA CORN PROCESSORS, LLC 
