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Codexis: 3Q Earnings Snapshot

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.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CDXS at https://www.zacks.com/ap/CDXS