IHS Chemical Week

People & Business :: Earnings/Finance

Metabolix loss narrows

3:00 PM MST | November 5, 2013 | Rebecca Coons

Polyhydroxyalkanoate (PHA) firm Metabolix reports a net loss of $7.3 million for its fiscal third quarter, compared to a net loss of $7.7 million in the year-ago quarter. Sales increased 28.6%, to $900,000, primarily due to government research grants and product sales. The company ended the quarter with $25.7 million in unrestricted cash and investments after using $5.9 million for operating activities in 2013. Metabolix has operated its business with an emphasis on cash management and securing a new supply source after ADM dissolved their PHA-based...

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