Solazyme, Inc. (NASDAQ:SZYM), a renewable oil and bioproducts company, announced today financial results for the fourth quarter and fiscal year ended December 31, 2011 and recent key corporate highlights.
“In 2011, Solazyme made significant progress toward commercializing our valuable technology platform, including launching our Algenist skincare line and our Solazyme Roquette Nutritionals business,” said Jonathan Wolfson, CEO, Solazyme. "Recently, we commenced operations at our manufacturing plant in Peoria, Illinois and Solazyme Roquette Nutritionals commenced operations at its Phase 1 facility in France. Over the past year, we delivered on all of our partner commitments, signed MOUs and JDAs to meet the majority of our long-term feedstock needs, and progressed on important partnerships. We believe we’ve set the stage for commercial expansion in 2012 and 2013.”
"Our unique technology platform is capable of rapidly prototyping new triglyceride oils that we expect will allow our customers to develop new and improved products and change the industrial playing field," added Mr. Wolfson.
Financial ResultsTotal revenue for the fourth quarter ended December 31, 2011 was $14.9 million compared with $23.2 million in the fourth quarter of 2010. The fourth quarter of 2010 included a $15 million license payment from Roquette, compared with a $5 million license payment received in the comparable quarter in 2011. Fourth quarter GAAP net loss attributable to Solazyme, Inc. common stockholders was $15.6 million, which compares with net income attributable to common stockholders of $2.9 million in the prior year period. On a non-GAAP basis, the net loss attributable to Solazyme, Inc. common stockholders was $12.2 million for the fourth quarter of 2011, compared with net income attributable to common stockholders of $5.9 million in the prior year quarter. A reconciliation of GAAP to non-GAAP results is included below. Total revenue for the fiscal year ended December 31, 2011 was $39.0 million compared with $38.0 million in the prior year. Fiscal year 2011 GAAP net loss attributable to Solazyme, Inc. common stockholders was $54.0 million, compared with $16.4 million in the prior year. On a non-GAAP basis, the net loss attributable to Solazyme, Inc. common stockholders was $39.4 million for 2011, compared with $11.8 million in 2010.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV