Consolidated selling, general and administrative (SG&A) expenses were $11.4 million for the three months ended June 30, 2012, compared to $8.2 million for the comparable period in the prior year. Current period SG&A expenses were comprised of $7.5 million for the alternative energy business and $3.9 million for the nitrogen fertilizer business, compared to $6.7 million and $1.5 million, respectively, for the prior-year period. The net increase in SG&A expenses for the alternative energy segment was primarily attributable to an increase in non-cash compensation expense of $1.7 million; net cash SG&A expenses declined by $0.9 million. The $2.4 million increase in SG&A expenses for the nitrogen products manufacturing segment was primarily due to costs associated with Rentech Nitrogen having become a publicly traded limited partnership and included an increase in non-cash unit-based compensation expense of $0.7 million.Research and development (R&D) expenses incurred in the alternative energy segment during the three months ended June 30, 2012 were $4.1 million, compared to $8.0 million for the comparable period in the prior year. The decrease in R&D expenses resulted primarily from a decrease in costs related to the Rentech-ClearFuels gasifier of approximately $5.9 million, which was partially offset by a decrease in reimbursements of costs related to the gasifier from the U.S. Department of Energy (DOE) of approximately $2.7 million.
Rentech Reports Results For Second Quarter 2012
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