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KiOR 4Q loss nearly doubles on plant startup costs
Updated: Monday, 18 Mar 2013, 12:03 PM EDT
Published : Monday, 18 Mar 2013, 12:03 PM EDT
PASADENA, Texas (AP) — KiOR's fourth-quarter loss nearly doubled with the start-up costs of a Mississippi production facility weighing on results from the alternative fuel company.
It was a better showing than Wall Street had expected and shares edged up on a down day for major markets.
For the quarter ended Dec. 31, KiOR posted a loss of $29.7 million, or 28 cents per share, compared with a loss of $14.9 million, or 15 cents per share, in the same quarter last year.
Revenue for the recent quarter totaled $87,000, as the company marked its first commercial shipment of alternative fuel from the Mississippi plant. Partially offsetting the revenue were $68,000 in production, shipping, blending and other revenue-related costs.
Analysts, on average, expected a loss of 31 cents per share on $1.5 million in revenue, according to FactSet.
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