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Amyris Q2 Loss Widens on Tough Year-Ago Comparisons
Posted: August 8, 2013
Amyris Inc.’s second-quarter loss widened and its total revenue fell 44% on tough comparisons to a year ago, prior to the company transitioning out of its ethanol and ethanol-blended gasoline operations.
For the quarter ended June 30, the company’s loss widened to $38.9 million, or 51 cents a share, from $47.1 million, or 81 cents a share, a year earlier.
Second-quarter total revenue fell 44% to $10.8 million from $19.3 million a year ago. Year-ago second-quarter revenue included $13.3 million of sales related to the company's ethanol and ethanol-blended gasoline business (it transitioned out of this business in 2012). Of the $10.8 million in total revenue during the quarter ended June 30, $4.2 million was related to renewable product sales and $6.7 million was related to collaboration and grant revenue. This compares with $2.3 million in renewable product sales and $3.7 million in collaboration and grant revenue for the same period in the prior year.
"During the second quarter, we continued to ramp up our farnesene production volume at our production facility in Brotas, Brazil,” said John Melo, the company’s president and CEO. “We achieved record renewable product sales during the quarter and continued to execute on our collaboration strategy with our partners, all the while maintaining lower operating expenses.”