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People & Business :: Emerging Companies
Solazyme's loss widens
3:52 PM MDT | August 7, 2013 | Rebecca Coons
Algal oils firm Solazyme (San Francisco) reports a net loss of $25.8 million (42 cts/share) for the quarter ended 30 June, compared with a net loss of $19.2 million (32 cts/share) in the year-ago quarter. Revenue decreased 17% compared to the year-ago quarter, to $17.0 million. Solazyme attributed the year-over-year sales decline to lower government-funded revenues, adding that product and development revenues were up 21% and 33%, respectively. Construction of Solazyme's first commercial-scale asset, a 100,000 m.t./year plant being built at Moema...
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