REDWOOD CITY, Calif. (AP) — REDWOOD CITY, Calif. (AP) — Codexis Inc. (CDXS) on Thursday reported a loss of $11.5 million in its first quarter.
On a per-share basis, the Redwood City, California-based company said it had a loss of 16 cents.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 17 cents per share.
The producer of custom industrial enzymes posted revenue of $17.1 million in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $14.1 million.
In the final minutes of trading on Thursday, the company's shares hit $3.34. A year ago, they were trading at $3.92.
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, source Associated Press News