Selling, general and administrative (SG&A) expenses decreased to $43.0 million in Q4 FY2013 from $44.7 million in Q4 FY2012, reflecting the minimum $3.7 million liability accrued in Q4 FY2012 related to the investigation into the Foreign Corrupt Practices Act, which has not changed, and reductions in short and long term incentive compensation of $4.1 million, offset by costs of $1.4 million associated with newly acquired operations, $0.5 million of higher legal and professional fees, and $5.1 million related to executive transition and other costs associated with the relocation of our corporate headquarters.Depreciation and amortization increased to $16.9 million from $16.0 million last year, due to assets acquired through the purchase of Diberil in Q2 FY2013, and increases associated with other equipment additions. The increases were partially offset by lower amortization expense of intangible assets from prior acquisitions, which became fully amortized earlier in FY2013.
Layne Christensen Reports Fiscal 2013 Fourth Quarter And Year-End Results Of Operations
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