Drydock expense in the fourth quarter was $9.9 million and full-year drydock expense was $33.3 million, consistent with the latest guidance.General and administrative expense was $16.1 million for the fourth quarter, approximately $4.1 million over the anticipated 2012 quarterly run rate of $12 million. The increase was driven largely by two factors: the write-off of $2.3 million in receivables in the U.K., related mainly to a customer that suddenly filed for bankruptcy, and $1.5 million of additional severance and other costs associated with the management restructuring in Southeast Asia.
GulfMark Offshore Announces Fourth Quarter And Full Year 2012 Operating Results
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