Cost of product revenues was $0.5 million during the six months ended June 30, 2012 and primarily reflects the cost of inventory shipped to customers and warehousing. Research and development expenses were $11.1 million for the first half of 2012 compared to $12.2 million for the same period in 2011. The six month decrease of $1.1 million is primarily the result of decreased employee compensation and benefit expenses of $0.5 million, net of one-time restructuring expenses of $0.5 million, and a reduction in contract research expenses of $0.6 million, and less frequent biopolymer product trials and outside testing. Selling, general and administrative expenses were $7.8 million for the first six months of 2012 as compared to $8.0 million for the comparable six month period in 2011. The decrease of $0.2 million is primarily the result of decreased employee compensation and benefit expenses of $0.3 million, net of one-time restructuring expenses of $0.4 million.The Company reported net income of $20.9 million or $0.61 per share for the first half of 2012 compared to a net loss of $19.6 million or $0.69 per share for the first half of 2011.
Metabolix Reports Second Quarter 2012 Financial Results And Provides Business Update
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