Solazyme Gains as Results Beat Estimates: San Francisco Mover

Solazyme Inc. (SZYM), a U.S. biofuel company that produces oil from algae, surged after reporting a smaller-than-expected second-quarter loss.

Solazyme gained 13 percent to $12.65 at the close in New York, the most since November 2011.

The net loss was $25.8 million, or 28 cents a share, excluding one-time items, the South San Francisco, California-based company said in a statement released yesterday after the close of regular trading. The average per-share loss of eight analysts surveyed by Bloomberg was 36 cents.

The company’s quarterly revenue of $11.2 million exceeded the average of nine analysts’ estimates, according to data compiled by Bloomberg.

To contact the reporter on this story: Justin Doom in New York at jdoom1@bloomberg.net

To contact the editor responsible for this story: Reed Landberg at landberg@bloomberg.net

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