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Verenium Corporation Message Board

  • templario_one templario_one Aug 7, 2013 8:16 AM Flag

    I like the ask at 200.000 $

    I guess we will see 4$ today

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    • Hope you are right. I will be back to break even just over $4 ! :-)

      • 1 Reply to m_mc5
      • johnsmith33361@rocketmail.com johnsmith33361 Aug 7, 2013 5:10 PM Flag

        VERENIUM REPORTS FINANCIAL RESULTS

        FOR THE SECOND QUARTER AND SIX MONTHS ENDED JUNE 30, 2013

        SAN DIEGO, Calif., August 7, 2013 – Verenium Corporation (Nasdaq: VRNM), a leading industrial biotechnology company focused on the development and commercialization of high-performance enzymes, today reported operating highlights and financial results for the second quarter and six months ended June 30, 2013.

        Operating Highlights

        Since the beginning of 2013, the Company has made important progress on both operational and financial fronts. Recent accomplishments include:

        Animal Health and Nutrition



        • Introduced next-generation phytase enzyme product, CIBENZA ® PHYTAVERSE™, with partner Novus, International, Inc. (Novus). Novus and Verenium expect to launch this product in certain geographic regions in 2013.




        • Selected the first lead enzyme candidate for a suite of non-starch polysaccharide (NSP) enzymes, also with partner Novus.


        Grain Processing



        • Launched Deltazym ® APS protease for use in corn ethanol operations to reduce cost and chemical usage.




        • Continued to demonstrate the operational and economic advantages of Fuelzyme ® alpha-amylase in several new field trials.


        Oilfield Services



        • Launched Pyrolase ® HT, a next-generation cellulase enzyme for use in hydraulic fracturing.




        • Reestablished commercial sales to a Pyrolase ® cellulase customer in China.


        Expansion Pipeline



        • Entered into a short term, preliminary research collaboration with Colgate-Palmolive Company to research an innovative enzyme-based manufacturing process to potentially replace traditional chemical processes that are standard in the manufacturing of certain consumer products.


        --------------------------------------------------------------------------------





        Financial Results

        Revenues

        Revenues for the periods ended June 30, 2013 and 2012 were as follows (in thousands):




        Three Months Ended

        June 30,
        Six Months Ended

        June 30,

        2013 2012 2013 2012
        Revenues:

        Animal health and nutrition
        $ 8,061 $ 9,256 $ 15,987 $ 16,672
        Grain processing
        2,880 2,256 5,046 5,841
        Oilseed processing
        — — — 579
        All other products
        90 730 214 871









        Total product
        11,031 12,242 21,247 23,963
        Contract manufacturing
        2,512 2,486 4,730 2,486
        Collaborative and license
        1,844 969 3,196 6,477









        Total revenue
        $ 15,387 $ 15,697 $ 29,173 $ 32,926

        Total revenues for the six months ended June 30, 2013 decreased 11% to $29.2 million from $32.9 million in the prior year, due in large part to license revenue recorded in 2012 from DSM and Novus. Combined product and contract manufacturing revenue for the six months ended June 30, 2013 decreased 2% to $26.0 million from $26.4 million in the prior year.

        Product revenue for the six months ended June 30, 2013 decreased 11% to $21.2 million from $24.0 million in the prior year, primarily attributed to a decline in Phyzyme ® XP phytase manufacturing revenue due to an increase in manufacturing volumes by DuPont, the Company’s marketing and distribution partner for Phyzyme ® XP phytase. Revenue associated with product manufactured at DuPont sites is recognized on a net basis equal to the royalty on operating profits received from DuPont, and excludes gross manufacturing revenue.

        In addition, grain processing revenue declined during the first quarter of 2013 and was offset in part by an increase in grain processing revenue during the second quarter of 2013, indicative of improvements in corn ethanol market conditions and increased customer adoption of the Company’s Fuelzyme ® alpha-amylase enzyme.

        The Company also reported lower revenue from its grain processing and oilseed processing product lines as a result of the sale of its Veretase ® alpha-amylase and Purifine ® PLC enzymes to DSM in March 2012. In conjunction with the sale to DSM, the Company entered into a supply agreement to continue to produce and sell Purifine ® PLC and Veretase ® alpha-amylase products to DSM at lower sales prices than prior periods when sold directly to end customers. Revenue from the DSM supply agreement is reported as contract manufacturing revenue

 
VRNM
3.990.00(0.00%)Oct 31 3:59 PMEDT

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