Kior reports wider loss for Q3 2011

Nov 11, 2011 - US renewable fuels firm Kior Inc (NASDAQ:KiOR) on Thursday posted a wider loss for the third quarter of 2011 as it continued to focus on the construction of its first commercial plant and research and development.

The company did not generate any revenues in the period and saw its net loss deepen to USD 14.8 million (EUR 10.9m), or USD 0.15 per share, from USD 10.6 million, or USD 0.13 per share, a year earlier. The result included a non-cash stock-based compensation expense of USD 1.6 million.

Kior said that it was on track to put its first commercial facility in Columbus, Mississippi, into operation during the second half of 2012. The company is also preparing the ground for its second plant in Newton, Mississippi, including by lining up financing.

For the first nine months of the year Kior reported a net loss of USD 49.1 million versus USD 36.3 million a year ago.

(USD 1 = EUR 0.734)

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