Cost of sales for the three months ended June 30, 2012 were approximately $545,000, compared to $6.7 million for the same period in 2011. Cost of sales for the first six months of 2012 totaled $1.2 million as compared to $13.2 million for the first six months of 2011. The decline in cost of sales is due to our lower variable manufacturing costs from the Company's reduced sales volumes and reduction in manufacturing overhead through lower supplies utilization and headcount attrition.Research and development expenses for the three months ended June 30, 2012 were approximately $126,000, compared to approximately $259,000 for the same period of 2011, or a decline of over 51%. Research and development expenses for the first six months of 2012 were approximately $255,000, compared to approximately $509,000 for the first six months of 2011, or a decline of nearly 50%. The decrease was primarily due to a reduction in legal expenses and outside services used in our current product development projects.
Cereplast Announces 2012 Second Quarter Financial Results
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