Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

May 6 (Bloomberg) -- Solazyme Inc., a California-based producer of renewable oils from algae, fell the most in three weeks after its first commercial production in Brazil was pushed into the current quarter. Revenue fell short of expectations and its first-quarter loss was bigger than expected.

Solazyme fell 4.5 percent to $10.37 at the close in New York, the most since April 10.

The company expects to begin commercial production at its Moema, Brazil, facility in the current quarter, according to a statement after the close of regular trading yesterday. South San Francisco-based Solazyme said in November that would happen in the first quarter, rather than last year, and reiterated the goal in February.

The company reported a loss of 44 cents a share, excluding stock-based compensation and other one-time expenses. That exceeded the 36-cent average of eight analysts surveyed by Bloomberg. Revenue was $12.4 million, missing expectations of $14.6 million.

The company is already delivering commercial volumes from its plant in Iowa, and the Brazil facility is nearly complete, according to the statement.

“While we haven’t yet announced our first commercial product out of Moema, much of that plant is operational,” Chief Executive Officer Jonathan Wolfson said in the statement. “We expect to manufacture commercial product at the Moema facility in the second quarter.”

Higher output this year may boost revenue and profit, Rob Stone, an analyst at Cowen & Co., said today in a note to investors. He rates Solazyme the equivalent of a buy with a 12-month price target of $18.

The company is “at an attractive entry point, ahead of an inflection as full-scale production begins to ramp,” he said.

To contact the reporter on this story: Justin Doom in New York at

To contact the editors responsible for this story: Reed Landberg at Will Wade, Carlos Caminada

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.