Xethanol Corp. (XNL) reported a full year net loss of $20.2 million or $0.93 per share, compared to a net loss of $11.4 million or $0.84 per share in the prior year. On average, two analysts polled by First Call/Thomson Financial expected the company to post a loss of $0.61 per share for the year.
The company attributed the widening loss to higher general and administration and other expenses, research and development expenses as well as an impairment loss on fixed assets. Included in the net loss for the year ended December 31, 2006 were non-cash charges totaling $14.4 million.
The company reported net sales of $11.0 million for 2006, a 159% increase from net sales of $4.3 million in last year, due to a full year of ethanol sales and related products at the Xethanol BioFuels plant in Blairstown, Iowa.
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