YEAR-END FINANCIAL RESULTSTotal revenues for the year ended August 31, 2013 were $5.2 million compared to $5.4 million for the previous fiscal year due primarily to a decrease in collaborative research revenue.
Cost of product sales was $6.2 million for the year ended August 31, 2013 compared to $2.4 million for the previous fiscal year. The increase was primarily due to write-down expenses of $2.2 million for obsolete seed inventory relating to the company's sweet sorghum products and $1.7 million for crop management services performed under certain sales incentive and performance-based promotional programs for the 2012-2013 growing season in Brazil.
Research and development expenses decreased by $2.8 million to $16.4 million for the year ended August 31, 2013 compared to the previous fiscal year due primari
|SOURCE Ceres, Inc.|
Copyright©2012 PR Newswire.
All rights reserved