Solazyme reports second quarter 2012 results

San Francisco-based Solazyme, Inc., a renewable oil and bioproducts company, announced its financial results for the second quarter which ended June 30, 2012; the quarter’s revenue totaled US$13.5 million compared to US$7.4 million in the second quarter of last year. Second quarter GAAP net loss attributable to Solazyme, Inc. common stockholders was US$19.2 million, against net loss attributable to common stockholders of US$17 million in the same period last year. Net loss attributable to Solazyme Inc. common stockholders on a non-GAAP basis was US$16.3 million for the second quarter of 2012, compared to a net loss of US$10 million attributable to common stockholders in the prior year’s quarter. “We have a strong balance sheet and all of our current projects are fully funded,” said Tyler Painter, CFO of Solazyme. “Solazyme has been built on carefully managing every dollar we spend building our business and we will continue to focus on prudently deploying our capital to maximize future returns. Most importantly, we continue to create long-term stockholder value by executing on our commercialization plan and investing in our technology platform.” (August 7, 2012)