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Solazyme's CEO Discusses Q2 2012 Results - Earnings Call Transcript

Stocks in this article: SZYM

I’d like to direct you to slide 2. It says among other things that some of the comments constitute forward-looking statements that reflect the management’s current views and estimates of future events and economic circumstances, industry conditions, company performance and financial results.

Statements are based on many assumptions and factors including availability and prices of raw materials and equipment, market conditions, operating efficiencies, access to capital and actions of government. Any changes in such assumption for factors can produce significantly different results.

To the extent permitted under applicable law, the company assumes no obligation to update any forward-looking statements as a result of new information or future events. Solazyme has provided additional information in its reports on file with the SEC concerning factors that could cause actual results to differ materially from those contained in this presentation and encourages you to review these factors.

Also please note that certain financial measures we use on this call are expressed on a non-GAAP basis and have been adjusted to exclude certain charges. We have provided reconciliations of these non-GAAP financial measures to GAAP financial measures in today’s release.

With that, I’ll now turn the call over to Jonathan.

Jonathan Wolfson

Thanks, James and thanks everybody for participating on today’s call. The second quarter of 2012 was another very strong quarter for Solazyme. We hit key milestones toward building out our commercial manufacturing capacity including breaking ground at the Solazyme Bunge oils facility in Brazil and successfully commissioning our integrated bio refinery in Peoria Illinois both on schedule.

And within our Solazyme Roquette Nutritionals JV, construction on the Phase II 5,000 metric ton facility is progressing and we continue to expect the plant to be operational in the second quarter of 2013.

We’re actively advancing our downstream commercialization in each of our target markets. In our first to market opportunity, skin and personal care, sales of our Algenist brand in the first half of 2012 surpassed full year sales for 2011.

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