Codexis, Inc. Reports Unaudited Consolidated Earnings Results for Third Quarter and Nine Months Ended September 30, 2012; Provides Earnings Outlook for the Year 2012
January 30, 2013 at 04:38 pm IST
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Codexis, Inc. reported unaudited consolidated earnings results for third quarter and nine months ended September 30, 2012. For the quarter, the company's total revenues were $26,341,000 against $33,282,000 a year ago. Loss from operations was $2,156,000 against $2,333,000 a year ago. Loss before provision for income tax was $2,140,000 against $2,668,000 a year ago. Net loss was $2,309,000 or $0.06 per basic and diluted share against $2,742,000 or $0.08 per basic and diluted share a year ago. Adjusted EBITDA was $3,155,000 against $2,638,000 a year ago.
For the nine months, the company's total revenues were $80,386,000 against $90,372,000 a year ago. Loss from operations was $14,765,000 against $11,003,000 a year ago. Loss before provision for income tax was $14,875,000 against $11,186,000 a year ago. Net loss was $15,318,000 or $0.42 per basic and diluted share against $11,254,000 or $0.32 per basic and diluted share a year ago. Adjusted LBITDA was $370,000 against earnings of $4,477,000 a year ago.
For the full year 2012, the company expects a decline in total revenues relative to its full year 2011 total revenues of $124 million and adjusted EBITDA to be negative.
Codexis, Inc. is an enzyme engineering company. It is leveraging its CodeEvolver technology platform to discover, develop, enhance, and commercialize novel, high performance enzymes and other classes of proteins. It utilizes its CodeEvolver technology platform to develop optimized enzymes that are used by some pharmaceutical companies to reduce their costs and improve the efficiency and productivity of their manufacturing processes for small molecule therapeutics. It is developing its Enzyme-Catalyzed Oligonucleotide Synthesis (ECO Synthesis) manufacturing platform to enable the scaled manufacture of RNA interference (RNAi) therapeutics through an enzymatic route. It also uses the CodeEvolver platform technology to develop enzymes for the synthesis of nucleic acids, such as DNA/RNA, including enzymes utilized in its ECO Synthesis manufacturing platform, where its enzymes are poised to deliver many of the same benefits it offers in pharmaceutical manufacturing.
Codexis, Inc. Reports Unaudited Consolidated Earnings Results for Third Quarter and Nine Months Ended September 30, 2012; Provides Earnings Outlook for the Year 2012