Gross profit for the fourth quarter of 2011 was $4.2 million or 11.6% as a percentage of sales. This is compared to $14.6 million or 25.9% as a percentage of sales from the previous sequential quarter. This gross profit decline was driven mostly by the decrease in volume, lower ASP and unfavorable mix.Selling, general and administrative expenses (SG&A) were $8.7 million in the fourth quarter, a $1.9 million increase sequentially. The increase was mostly due to several discrete items including the unfavorable resolution of a sales tax audit, additional environmental remediation efforts and costs associated with the Company’s Asia expansion.
STR Holdings, Inc. Reports Fourth Quarter And Full Year 2011 Results
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