Of the plantings this season, approximately 1,800 hectares were planted under certain sales incentive programs and promotions, whereby the company has either deferred revenue until the completion of the 2012-2013 sweet sorghum harvest season, or expects to generate revenue through agronomy services or biomass sales. The remaining hectares, which were not enrolled in incentive programs, consisted of seed sales that were recognized as revenue upon delivery and planting as well as complimentary trial seed. The majority of seed deliveries and plantings in Brazil occurred in the fiscal second quarter.Cost of product sales was relatively flat at $0.7 million for the quarter ended November 30, 2012 compared to $0.8 million for the same period last year. Cost of product sales during this comparative period primarily related to the company’s U.S. operations.
Ceres Announces Fiscal First Quarter 2013 Financial Results
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