Research and development (R&D) expenses for the fourth quarter of 2012 totaled $9.5 million, essentially flat from the $9.5 million recorded in the third quarter of 2012. Fourth quarter 2012 R&D expenses increased $0.5 million from fourth quarter 2011, mainly due to higher payroll and related expenses. Full year-over-year R&D expenses increased $2.8 million to $36.6 million primarily as a result of increased payroll and related expenses, including a $1.1 million increase in non-cash stock based compensation expense.General and administrative (G&A) expenses for the fourth quarter of 2012 were $20.2 million, an increase of $2.8 million from the third quarter of 2012, primarily due to start-up activities related to the Columbus facility. Fourth quarter 2012 G&A expenses increased $14.3 million from fourth quarter 2011, also due to $11.5 million higher start-up related activities from to the Columbus facility and $2.4 million higher non-cash stock based compensation. Full year-over-year G&A expenses increased $36.2 million from 2011, mainly driven by $28.5 million higher Columbus related expenses, $5.9 million higher non-cash stock based compensation and higher other payroll related expenses.
KiOR Reports Fourth Quarter And Full Year 2012 Results
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