KiOR reports loss, but plant still on schedule
by MBJ Staff
Published: August 14,2011
KiOR Inc., for the second quarter of 2011, reported a net loss of $21.0 million, or $0.43 per share, compared to $19.4 million, or $0.27 per share, for the second quarter of 2010.
KiOR’s second quarter 2011 loss includes $5.5 million of non-cash mark-to-market expense relating to KiOR’s warrant liabilities and $2.6 million of non-cash stock-based compensation expense.
COLUMBUS — Pasadena, Texas-based KiOR did not recognize revenue during the second quarter of 2011, as its activities have been focused on construction of its first commercial facility in Columbus and research and development (R&D) designed to improve production yields.
“During the second quarter we made significant construction progress on our first commercial production facility in Columbus, Miss. We also signed commercial offtake and feedstock arrangements covering 100 percent of the facility’s anticipated offtake capacity and feedstock requirements,” said Fred Cannon, KiOR’s president and CEO. “With construction at Columbus on schedule, we believe that KiOR is on track to commence production in the second half of 2012.”
To sign up for Mississippi Business Daily Updates, click here.
Twang & Tourism: The Country Music Trail
Still planning that summer vacation?
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- Silver Airways ordered to continue service
- Seafood R’evolution set to make Mississippi ‘the new culinary epicenter of the South’
- Bryant signs controversial abortion ban bill
- Soybean yield more than doubles in less than a decade
- Two Delta groups getting economic development funding
- Pharma Pac lays off rest of workers; could end up owing state
- Plans unveiled for large shooting range on Coast
- Ole Miss launches commitment to be 'climate neutral'
- Yarber could be sworn in today as new Jackson mayor
- Biloxi baseball project still alive but may be held for 2015