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Verenium Reports Financial Results For The First Quarter Ended March 31, 2013
Date:5/9/2013

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1,3525,508Total revenue

13,78617,229Operating expenses:Cost of product and contract manufacturing revenue

7,7047,315Product and contract manufacturing gross profit

4,7304,406Product and contract manufacturing gross margin

38%38%Research and development

5,0783,161Selling, general and administrative

4,7635,915Total operating expenses

17,54516,391Gain on sale of oilseed processing business

--(31,278)Income (loss) from operations

(3,759)32,116Other income and expense:Interest and other expense, net

(1,371)(1,280)Loss on net change in fair value of derivative assets and liabilities

(927)(706)Total other expense, net

(2,298)(1,986)Net income (loss) from continuing operations before income taxes

(6,057)30,130Income tax provision

--(814)Net income (loss) from continuing operations

(6,057)29,316 Net loss from discontinued operations

--(15)Net income (loss) attributed to Verenium

$
(6,057)$
29,301Net income (loss) per share, basic

$
(0.47)$
2.32Net income (loss) per share, diluted

$
(0.47)$
2.26Shares used in computing net income (loss) per share, basic

12,78312,608Shares used in computing net income (loss) per share, diluted

12,78313,178Verenium CorporationCondensed Consolidated Balance Sheet Data(unaudited, in thousands)March 31,December 31,20132012Cash and cash equivalents

$
27,196$
34,875Restricted cash, short term

2,5002,500Accounts receivable, net

11,62010,577Inventories, net

5,1405,311Other current assets 

2,5173,039Property and equipment, net 

36,12736,798Other noncurrent assets 

624676Total assets 

$
85,724$
93,776Accounts payable and accrued expenses$
,292$
3,266Deferred revenue, current 

1,3771,929Other curre
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SOURCE Verenium Corporation
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