8:35AM Senomyx misses by $0.03, misses on revs; reaffirms FY13 EPS guidance, revs guidance (SNMX) 1.90 : Reports Q1 (Mar) loss of $0.07 per share, $0.03 worse than the Capital IQ Consensus Estimate of ($0.04); revenues fell 9.7% year/year to $7.48 mln vs the $8.45 mln consensus.
Co reaffirms guidance for FY13, sees EPS of ($0.20) - ($0.25) vs. ($0.21) Capital IQ Consensus Estimate; sees FY13 revs of $31-34 mln vs. $33.12 mln Capital IQ Consensus Estimate.
"Under the terms of our extended collaboration, we will receive $4 mln in additional license payments in 2013 and another $1 mln at some point in the future, but not later than July 2016. We expect to recognize revenue on this $5 mln ratably over the period April 2013 to July 2016."
"We have used Senomyx's proprietary technologies to discover and develop multiple sucrose modifiers, each of which has distinct characteristics that enable the modifier to restore the desired sweet taste in a variety of sugar-reduced products. Our technology also led to S617, a modifier of both sucrose and high fructose corn syrup (HFCS) that is currently in the development phase. Most recently, we have identified a number of additional promising fructose modifiers that demonstrated the ability to restore the taste of product prototypes with reduced HFCS. We believe that having a portfolio of modifiers for HFCS, a widely used sweetener, will expand the product applications that we can address and increase the value of our sweet modifier offerings."
8:35AM Deluxe beats by $0.04, beats on revs; guid
