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People & Business :: Earnings/Finance
Metabolix reports net loss, supply situation remains uncertain
May 9, 2013 | Rebecca Coons
Biopolymer and biobased chemicals firm Metabolix reported a first-quarter net loss of $6.8 million (20 cts/share), compared to net income of $28.8 million (84 cts/share) in the year-ago quarter. The company has been without a production asset since ADM dissolved their polyhydroxyalkanoate (PHA)-based biopolymers joint venture in January of 2012 and stopped production on the jv's behalf. First-quarter 2013 net sales fell 95%, to $1.9 million. The 2012 quarter included $38.9 million of previously deferred revenue related to the jv. First-quarter revenue...
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