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Last $3.16 USD
Change Today +0.14 / 4.64%
Volume 1.8M
As of 8:10 PM 05/22/15 All times are local (Market data is delayed by at least 15 minutes).

gevo inc (GEVO) Key Developments

Gevo, Inc. Reports Unaudited Consolidated and Company Earnings Results for the First Quarter Ended March 31, 2015

Gevo, Inc. reported unaudited consolidated and company earnings results for the first quarter ended March 31, 2015. On consolidated basis, revenues for the first quarter of 2015 were $5.9 million compared to $0.9 million in the same period in 2014. The increase in revenue during 2015 is primarily a result of the production and sale of approximately $5.1 million of ethanol and distiller's grains following the transition of the Luverne plant to the SBS configuration. Loss from operations was $9.5 million against $12.9 million last year. Net loss for the first quarter of 2015 was $7.3 million or $0.88 per basic and diluted share compared to $12.0 million or $2.65 per basic and diluted share during the same period in 2014. Net cash used in operating activities was $9.5 million against $13 million last year. Acquisitions of property, plant and equipment, net was $0.1 million against $2.9 million last year. Non-GAAP loss from operations was $7.5 million compared to $11.1 million in the same period in 2014. On company basis, loss from operations was $5.2 million compared to $7.9 million in the same period in 2014. Non-GAAP loss from operations was $4.6 million compared to $6.6 million in the same period in 2014.

Gevo, Inc., Q1 2015 Earnings Call, May 12, 2015

Gevo, Inc., Q1 2015 Earnings Call, May 12, 2015

Gevo, Inc. Auditor Raises 'Going Concern' Doubt

Gevo, Inc. filed its 10-K on Mar 30, 2015 for the period ending Dec 31, 2014. In this report its auditor, Deloitte & Touche LLP, gave an unqualified opinion expressing doubt that the company can continue as a going concern.

Gevo, Inc. Announces Unaudited Consolidated and Company Earnings Results for the Fourth Quarter and Year Ended December 31, 2014

Gevo, Inc. announced unaudited consolidated and company earnings results for the fourth quarter and year ended December 31, 2014. For the quarter, on consolidated basis, the company reported total revenues of $9,501,000 against $1,695,000 a year ago. Loss from operations was $8,911,000 against $13,002,000 a year ago. Net loss was $11,079,000 or $0.11 per basic and diluted share against $17,329,000 or $0.35 per basic and diluted share a year ago. Net cash used in operating activities was $6,384,000 against $15,328,000 a year ago. Acquisitions of property, plant and equipment, net was $341,000 against $5,172,000 a year ago. Non-GAAP loss from operations was $6,747,000 against $11,339,000 a year ago. For the year, on consolidated basis, the company reported total revenues of $28,266,000 against $8,224,000 a year ago. Loss from operations was $39,777,000 against $55,515,000 a year ago. Net loss was $41,145,000 or $0.51 per basic and diluted share against $66,806,000 or $1.48 per basic and diluted share a year ago. Net cash used in operating activities was $38,990,000 against $47,048,000 a year ago. Acquisitions of property, plant and equipment, net was $4,894,000 against $7,800,000 a year ago. Non-GAAP loss from operations was $32,037,000 against $48,211,000 a year ago. For the quarter, on company basis, the company reported loss from operations of $6,601,000 against $7,517,000 a year ago. Non-GAAP loss from operations was $5,887,000 against $6,466,000 a year ago. For the year, on company basis, the company reported loss from operations of $26,567,000 against $39,745,000 a year ago. Non-GAAP loss from operations was $22,849,000 against $34,834,000 a year ago.

Gevo Signs Strategic Alliance Memorandum of Understanding with Praj Industries Limited

Gevo, Inc. announced that Praj Industries Limited has signed a memorandum of understanding to become a Gevo licensee for producing renewable isobutanol at sugar-based ethanol plants. Under the MOU, Praj will undertake to license up to 250 million gallons of isobutanol capacity for sugar-based ethanol plants over the next ten years. Gevo will market the isobutanol produced by Praj's sub-licensees. Praj will also contribute process engineering and equipment services to expand isobutanol capacity at Gevo's plant in Luverne, Minn, as well as to improve yields and optimize energy consumption at the facility.

 

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