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New words:
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attempted, aware, carefully, Cautionary, emerge, predict, prove, unpaid
Financial report summary
?Management Discussion
- Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations
- Net income was approximately $6.6 million in Fiscal 2021, which was $6.3 million increase as compared to net income in Fiscal 2020. The increase in net income for Fiscal 2021 can be attributed in part to a 7% increase in ethanol production along with a 64% increase in total ethanol revenue. Additionally total cost of production increased 61% because of a 93% increase in corn cost over Fiscal 2020. Distillers grains revenue increased approximately $12.7 million as a result of an increase as a result of an increase in in ethanol production which creates additional distillers grain production.
- Revenues from operations for the fiscal year ended September 30, 2021 were approximately $172 million, consisting of an estimated $131.4 million of ethanol sales (net of hedging activity), or 76% of revenues, $31.9 million in distillers grains sales, or 19% of revenues, and $9.3 million of corn oil, syrup, CO2 and other sales, or 5% of revenues. Revenues increased in Fiscal 2021 by approximately 64%, when compared to Fiscal 2020. The increase in revenues for Fiscal 2021 resulted from an increase in ethanol and distiller grains production along with an increase in ethanol and distillers prices received from our marketers.