Markets :: Fine Chemicals/Biotech :: Industrial Biotech
Gevo posts net loss; on track for Luverne restart in 2013
3:13 PM MDT | April 30, 2013 | Rebecca Coons
Biobased isobutanol firm Gevo (Englewood, CO) reported a net loss of $18.4 million (45 cts/share) for its fiscal first-quarter ended 31 March, compared with a net loss of $19.3 million in the year-ago quarter. Analysts expected the company to post a net loss of 40 cts/share, according to Thomson Reuters (New York). Revenue fell 76.5%, to $3.5 million, reflecting ethanol sales from its Luverne, MN biorefinery in the 2012 quarter. Revenue reported in the first quarter of 2013 included proceeds of $2.4 million from further reduction of Gevo's corn inventory, with...
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