Last $2.39 USD
Change Today +0.03 / 1.27%
Volume 35.6K
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As of 4:00 PM 08/22/14 All times are local (Market data is delayed by at least 15 minutes).

codexis inc (CDXS) Key Developments

Codexis, Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Revises Earnings Guidance for the Full Year 2014

Codexis, Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company's total revenues were $6,570,000 against $6,974,000 a year ago. Loss from operations was $8,911,000 against $12,450,000 a year ago. Loss before income taxes was $8,916,000 against $12,617,000 a year ago. Net loss was $8,479,000 or $0.22 basic and diluted per share against $12,605,000 or $0.33 basic and diluted per share a year ago. For the six months, the company's total revenues were $13,644,000 against $18,455,000 a year ago. Loss from operations was $15,307,000 against $22,080,000 a year ago. Loss before income taxes was $15,421,000 against $22,305,000 a year ago. Net loss was $14,854,000 or $0.39 basic and diluted per share against $22,228,000 or $0.59 basic and diluted per share a year ago. The company burned approximately $4.5 million in cash flow from operations for the first 6 months of 2014 inclusive of $1.5 million in cash proceeds from the sale of Hungary entity in the first quarter. This compares to a cash burn of approximately $10.6 million for the same period of 2013. The company is revising its financial guidance for fiscal year 2014. Revenues for 2014 are now expected to total between $35 million and $38 million, representing growth of 10% to 19% compared to the prior year. The company's gross margin is now expected to fall within the range of 70% to 75% as a percentage of total revenues, a significant increase over the level of 54% gross margin delivered in 2013. Finally, the company now expects to achieve positive cash flow from operations for fiscal year 2014.

Codexis, Inc. to Report Q2, 2014 Results on Aug 06, 2014

Codexis, Inc. announced that they will report Q2, 2014 results After-Market on Aug 06, 2014

Codexis, Inc., Q2 2014 Earnings Call, Aug 06, 2014

Codexis, Inc., Q2 2014 Earnings Call, Aug 06, 2014

Codexis, Inc. Announces Executive Changes Effective August 18, 2014

The Board of Directors of Codexis, Inc. has appointed Gordon Sangster as the company's Senior Vice President and Chief Financial Officer, such appointment to be effective August 18, 2014. Mr. Sangster will replace David McCaman as the company's principal financial officer and principal accounting officer effective as of that date. Mr. Sangster, age 61, joins the company from Nitinol Devices & Components, a private medical device manufacturer, where he served as Chief Financial Officer from October 2011 until July 2014. Prior to that role, Mr. Sangster was Chief Financial Officer of ITC Nexus-Dx.

Codexis, Inc. - Special Call

To discuss the strategic collaboration and license agreement with GSK

 

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