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[QUOTE]Originally posted by IMAKEMONEY: [QB] Aventine Energy Net Drops 75% On Ethanol Prices, Corn Costs Feb 21, 2008 18:32:26 (ET) DOW JONES NEWSWIRES Aventine Renewable Energy Holdings Inc.'s (AVR) fourth-quarter net income dropped 75% to $3.26 million, or 8 cents a share, from $12.8 million, or 30 cents a share, a year earlier, due to lower ethanol sales prices and higher corn costs. The Pekin, Ill., ethanol company's revenue fell to $379.4 million from $428.9 million in the year-ago period. On average, analysts polled by Thomson Financial expected a per-share loss of 3 cents and revenue of $354.1 million. Aventine said it had $211.5 million in auction rate securities as of Dec. 31. The company liquidated $84.3 million of the securities as of Thursday, incurring a pretax loss of about $1.5 million in connection with the liquidation. Aventine said it has had "multiple" failed auctions since Feb. 8 and won't attempt to liquidate any more securities until market conditions improve or its liquidity needs require it to do so. -Melissa Korn; 201-938-5400; AskNewswires*dowjones.com (END) Dow Jones Newswires February 21, 2008 18:32 ET (23:32 GMT) :u: :u: :u: :u: :u: :u: :u: [/QB][/QUOTE]
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