REDWOOD CITY, Calif. (AP) _ Codexis Inc. (CDXS) on Tuesday reported third-quarter net income of $343,000, after reporting a loss in the same period a year earlier.
The Redwood City, California-based company said it had net income of 1 cent per share. Earnings, adjusted for stock option expense and non-recurring costs, came to 4 cents per share.
The producer of custom industrial enzymes posted revenue of $21.9 million in the period, exceeding Street forecasts. Three analysts surveyed by Zacks expected $16.6 million.
Codexis expects full-year revenue in the range of $69 million to $72 million.
Codexis shares have dropped 16% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $14, a drop of 12% in the last 12 months.