Biofuels Short Takes for May 1: Gevo, Amyris, Green Plains earnings

May 1, 2013 |

Amyris earnings. In California, Amyris reported revenues for Q1 2013 of $7.9 million, and a net loss of $32.6 million ($0.44 per share) compared to a loss of $94.5 million ($1.88 per share) in the comparable quarter of 2012. The Company’s balance of cash, cash equivalents and marketable securities at the end of the first quarter was $24.9 million, and Amyris relayed confirmation from Total that they are satisfied with the progress of our farnesene technical development program to date. Total’s anticipated $30 million funding will be available to Amyris in the second quarter.

Gevo earnings. In Colorado, Gevo reported revenues for Q1 2013 of $3.5 million, and a net loss of $18.4 million compared to a loss of $19.3 million in the comparable quarter of 2012. The Company’s balance of cash, cash equivalents and marketable securities at the end of the first quarter was 54.1 million, and the company filed an S-3 Registration Statement— a universal shelf registration statement, part of the company’s long-term financing strategy to position Gevo to access capital in support of its longer term growth objectives.

Green Plains earnings. In Nebraska, Green Plains Renewable Energy reported net income for Q1 2013 was $2.6 million, compared to a loss of $12.7 million in Q1 2012. Revenues were $765.5 million for the first quarter of 2013 compared to $775.4 million for the same period in 2012. “We achieved a significant improvement in our financial performance for the first quarter of 2013 compared to last year,” stated Todd Becker, President and Chief Executive Officer. “The benefits of our multi-year diversification strategy, combined with operational excellence and risk management were all factors that contributed to the positive results, with nearly a $24 million increase in operating income year over year.”

We will have complete coverage of Gevo, Amyris and Green Plains and other stories today at 2pm ET, at BioInvest Digest.

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