solazyme inc (SZYM) Snapshot

Solazyme, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. For the period, the company’s total revenues were $6,680,000 against $13,556,000 a year ago. Loss from operations was $23,360,000 against $17,107,000 a year ago. Net loss was $26,525,000 or $0.43 basic and diluted per share against $16,780,000 or $0.28 basic and diluted per share a year ago. Non-GAAP net loss was $21,502,000 or $0.35 per share against $12,790,000 or $0.21 per share a year ago. CapEx was $1.2 million in the quarter. For 2013, the company expects cash operating expenses to remain in the range of $115 million to $120 million. Capital expenditures to remain in the range of $20 million to $25 million. The company to expect overall revenue growth of approximately 25% in 2013, this includes over 35% growth in skin and personal care product revenues, and over 75% growth in joint development agreement and non Algenist commercial revenues.

Solazyme, Inc. and Akzo Nobel NV announced that they have entered into an agreement targeting the development of advanced tailored oils and commercial sales for near-term product supply. Tailored oils can enhance or replace petroleum-derived chemicals, and improve upon the performance of plant oils and animal fats. The Solazyme and AkzoNobel agreement is rooted in a shared commitment to sustainability and high-performance products derived from triglyceride oils. Commercial supply of multi-thousand ton quantities of highly sustainable algal oil is expected to originate from the Solazyme Bunge Renewable Oils Joint Venture oil manufacturing plant in Brazil. Sales of product are anticipated to commence in 2014, with pricing to be competitive and based upon Solazyme's cost of manufacturing. Product development efforts are anticipated to begin in the second half of 2013, and are focused on a number of AkzoNobel's end market applications, specifically surfactants and paints and coatings.

Solazyme, Inc., Q1 2013 Earnings Call, May 08, 2013