Aventine reports income up on lower corn costs, high co-product returns

In Illinois, Aventine Renewable Energy released its results for the fourth quarter, reporting net income for the fourth quarter of $3.3 million, or $0.08 per fully diluted share, on EBITDA of $11.4 million. The company said that average ethanol sales price declined in the fourth quarter but quarter end prices were significantly higher, corn costs fell to $3.66 per bushel and co-product returns increased to 45.3 percent. The company said would continue with construction of new plants in Nebraska and Indiana, after the company ran at 93 percent of capacity in 2007.

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