Codexis (CDXS) Tops Q2 EPS by 9c

Codexis (NASDAQ: CDXS) reported Q2 EPS of $0.12, $0.09 better than the analyst estimate of $0.03. Revenue for the quarter came in at $16 million versus the consensus estimate of $15.1 million.

GUIDANCE:

Codexis reaffirms FY2016 revenue of $46-49 million, versus the consensus of $47.52 million.

“We are reporting outstanding financial results for the second quarter, with $2.2 million in net income on total revenues of $16.0 million and a strong operating performance,” said Codexis President and CEO John Nicols. “Revenues for the quarter reflect the successful completion of our CodeEvolver® protein engineering platform technology transfer to GlaxoSmithKline (GSK), achievement of the final research and development milestone in our collaboration with a major biopharmaceutical company and 62% year-over-year growth in our core biocatalysis product revenue on increased demand for our enzymes.

“Completion of the technology transfer under our licensing agreement with Merck expected later this year and momentum in our core biocatalyst businesses put us on track to reach our 2016 revenue guidance of $46 million to $49 million,” added Mr. Nicols. “We continue to manage expenses while prudently investing in high-value opportunities to leverage our CodeEvolver® platform technology to drive future growth.”

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

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