(SeeNews) – Nov 2, 2011 – US maker of biocatalysts for pharmaceuticals and biofuels Codexis Inc (NASDAQ:CDXS) announced on Tuesday that it had suffered a USD 2.7 million (EUR 1.97m) net loss in the third quarter of 2011.
The loss, which came in at USD 0.08 per share, was largely unchanged from the result for the third quarter of last year. The company said its expenses on research and development, as well as its administrative, sales and general expenditure had increased in the period. Cash, cash equivalents and marketable securities at the end of the quarter stood at USD 70.6 million, down from USD 72.4 million at the end of the second quarter.
Revenues, however, were robust, rising by 23% year-on-year to USD 33.3 million, from USD 27.1 million. The result was supported by higher revenues at research and development operations, as well as the product sales division.
For the full 2011, the company expects revenues of at least USD 120 million, a growth of at least 12% from 2010 levels. Adjusted earnings before interest, tax, depreciation, and amortisation (EBITDA) for 2011 are set to be USD 5 million or more.
(USD 1.0 = EUR 0.728)