Amyris aggregate revenues slide to $5.9m in Q4 2012
Down from $41.5m in Q4 2011
Amyris, the renewable chemicals and fuels company, saw its aggregate revenues slip down to $5.9m in the fourth quarter, ended 31 December 2012.This figure was a significant decrease on the same period in 2011, which then totalled $41.5m. The company stated that the decline in revenue was due to its “planned transition out of the ethanol and ethanol-blended gasoline business, which was completed in the third quarter of 2012”. Of the $5.9m in aggregate revenues, $3m related to renewable product sales compared to $0.7m for the same period in 2011.
Meanwhile, total research & development, and sales, general & administrative expenses declined 20.3% to $35.5m from $44.5m in Q4 2011, primarily due to reductions in personnel related costs and overall lower spending. Furthermore, GAAP net loss attributable to common stockholders for the quarter was $43.5m ($0.72 per share) compared to $59.4m ($1.30 per share) in the prior year.
John Melo, President & CEO of Amyris, said: “In the final quarter of 2012, we completed commissioning and began commercial production of our industrial-scale farnesene production plant in Brazil. Also, we secured additional capital from some of our largest shareholders. Amyris is focused on continued execution of our business strategy with the goal of achieving positive cash flow in 2014, underpinned by a reduced operating expense profile, strong product and collaboration revenues, and ongoing support from our investors.”
