Solazyme Inc (SZYM) reported quarterly earnings results on Wednesday, May-4-2016. The company said it had a profit of $-0.27 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.06. Analysts had a consensus of $-0.33. The company posted revenue of $10.90 million in the period, compared to analysts expectations of $12.33 million. The company’s revenue was down -13.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.37 EPS.
Solazyme Inc opened for trading at $2.34 and hit $2.38 on the upside on Monday, eventually ending the session at $2.36, with a gain of 0.85% or 0.02 points. The heightened volatility saw the trading volume jump to 3,48,171 shares. Company has a market cap of $193 M.
In a different news, on Mar 14, 2016, Peter Licari (Chief Technology Officer) sold 1,562 shares at $1.64 per share price. According to the SEC, on Mar 14, 2016, Paul T Quinlan (General Counsel) sold 4,686 shares at $1.64 per share price. On Mar 14, 2016, Tyler Painter (Chief Financial Officer) sold 4,686 shares at $1.64 per share price, according to the Form-4 filing with the securities and exchange commission.
Solazyme Inc. creates renewable oils and bioproducts. The Company’s technology uses microalgae in an industrial fermentation process to transform a range of plant-based sugars into triglyceride oils and other bioproducts. The Company offers Algenist a skin and personal care product available at Sephora S.A. and its affiliates QVC Inc. SpaceNK Limited select Nordstrom stores and ULTA Beauty. It offers intermediates/ingredients such as Tailored oils powdered oils and other closely related products targeted at customers in the industrial products food products and personal care products markets. The Company’s commercial focus is to sell oils encapsulated oils and whole algal powdered products to companies that use them as intermediates and ingredients.