General and administrative expenses were $5.7 million or 8.2% of revenue for the first three quarters of 2011 compared to $4.8 million or 7.1% of revenue for the first three quarters of 2010. General and administrative costs included non-cash stock compensation of $475,000 in the first three quarters of 2011 compared to $276,000 in the first three quarters of 2010.The net loss for the first three quarters of 2011 was $1.5 million compared to a net loss of $2.9 million in the first three quarters of 2010. Net loss per share available to common shareholders was $(1.39) and $(0.40), respectively. Net loss per share available to common shareholders in 2011 included $(0.05) attributable to dividends declared and $(1.08) attributable to the non-cash beneficial conversion feature. There were a weighted average of 6.0 million and 7.4 million shares of common stock outstanding in the first three quarters 2011 and 2010, respectively.
Granite City Reports Increase In Revenue In Third Quarter 2011
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