The recorded results reflect the transfer of R&D expenses related to the development of new products from the Technical Products business direct costs and gross profit calculations, to a new line on the income statement called R&D expense where they will be reflected. Research and development costs in the fourth quarter relating to the Company's new solar inverter product, approximated $188,000 as compared to $273,000 in the previous quarter.Also, the reported results reflect the transfer of expenses related to the management of its international joint ventures from the Technical Products business indirect expenses and will show them on the income statement as a cost against equity net income. Joint venture costs in the fourth quarter approximated $91,000 as compared to $96,000 in the previous quarter.
American Electric Technologies Reports 4th Quarter And 2010 Results
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