IHS Chemical Week

People & Business :: Earnings/Finance

Solazyme reports higher revenue, updates start-up timeline for first commercial plant

11:53 AM MST | November 6, 2013 | Rebecca Coons

Algal oils firm Solazyme (San Francisco) reports a net loss of $30.7 million for its fiscal third quarter compared with a net loss of $22.5 million in the year-ago period. Excluding one-time charges, the company reports a loss of 34 cts/share, missing a consensus of analysts' estimates compiled by Thomson Reuters (New York) by 1 ct. Sales increased 23.2% year-on-year, to $10.6 million. The company also announced that start-up of its first commercial-scale asset—a $140-million, 100,000-m.t./year joint venture facility with agrobusiness giant Bunge at Moema...

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