Selling, general and administrative (SG&A) expenses were $6.4 million for the three months ended December 31, 2012, compared to $3.3 million for the prior-year period. The increase was primarily due to business development expenses of approximately $2.4 million, including $2.3 million related to the acquisition of the Pasadena Facility. In addition, non-cash unit-based compensation was approximately $0.4 million higher in the current period than in the prior-year period. Current period expenses also include $0.4 million in SG&A expenses at the Pasadena Facility. Partially offsetting the increase in SG&A expenses was a $1.1 million reduction in audit and tax fees which were higher in the prior-year period due to the additional audit and tax work required for the initial public offering (IPO) and change in fiscal year.Twelve months ended December 31, 2012
Rentech Nitrogen Announces Results For Fourth Quarter And Full Year 2012; Issues 2013 Guidance
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