Codexis (CDXS) Tops Q3 EPS by 24c

Codexis (NASDAQ: CDXS) reported Q3 EPS of $0.13, $0.24 better than the analyst estimate of ($0.11). Revenue for the quarter came in at $17.4 million versus the consensus estimate of $8.32 million.

Codexis reaffirms FY2015 revenue of $41-44 million, versus the consensus of $42.2 million.

"We are reporting strong financial and operational performance with revenues exceeding $17 million and net income exceeding $5 million for the quarter," stated Codexis President and CEO John Nicols. "We earned combined payments totaling $11.5 million from GSK and Merck related to the successful achievement of milestones under non-exclusive licensing transactions for our CodeEvolver® protein engineering platform technology. Our ability to enter into and advance such licensing agreements is a critical component of our overall growth strategy. At present, both programs with these major pharmaceutical companies are progressing well and according to plan."

"We are delighted with our financial results and the successful advancements of our collaboration arrangements during the quarter and throughout the year. Accordingly, we are updating our 2015 financial guidance by increasing our gross margin outlook to a range of 80% to 85%, while affirming our expectation for revenues to be in the range of $41 million to $44 million," Mr. Nicols concluded.

For earnings history and earnings-related data on Codexis (CDXS) click here.

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