Lake Area Corn Processors, Llc Reports Earnings Results for the Third Quarter Ended September 30, 2019
November 15, 2019 at 03:31 am IST
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Lake Area Corn Processors, LLC announced earnings results for the third quarter ended September 30, 2019. For the third quarter, the company announced sales was USD 32.441 million compared to USD 18.796 million a year ago. Operating loss was USD 2.786 million compared to USD 153,933 a year ago. Net loss was USD 3.599 million compared to USD 182,218 a year ago. Basic loss per share from continuing operations was USD 0.12 compared to USD 0.01 a year ago. For the nine months, sales was USD 80.151 million compared to USD 58.677 million a year ago. Operating loss was USD 973,345 compared to operating Income of USD 2.547 million a year ago. Net loss was USD 2.002 million compared to net income of USD 3.161 million a year ago. Basic loss per share from continuing operations was USD 0.07 compared to basic earnings per share from continuing operations of USD 0.11 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 
