Ceres Inc (NASDAQ:CERE) announced the earnings results for Fiscal Year 2015 and Quarter 1. The results came in during after-hours on January 13,2015. Company reported revenue of $400.00 Thousand, below the estimates of $500.00 Thousand. The revenues were $-100.00 Thousand or 20% below the estimates. Earnings per share were $-0.12.
Shares of Ceres Inc (NASDAQ:CERE) witnessed a cut of 9.05% or 0.0209 points as profit booking along with weak sentiments dragged the counter lower. In a rude shock, the price plummeted to an intraday low of $0.2001 after the trading commenced at $0.231. However, the investors breathed a sigh of relief as the stock regained lost ground and closed at $0.21, which is near the days high of $0.231. Volume reading came in strong at 466,032 shares. The yearly peak value of the shares is $1.65 while the lowest price point of the past 52-weeks is $0.21.
Ceres, Inc. (Ceres) is an agricultural biotechnology company selling seeds to produce renewable biomass feedstocks. The Companys large-scale commercial products are sweet sorghum varieties that can be used as a drop-in feedstock to extend the operating season of Brazilian sugarcane-to-ethanol mills. Its products include sweet sorghum, high biomass sorghum, switchgrass, miscanthus and row crops. Its energy crops can also be used for the production of second-generation biofuels and bio-based chemicals, including cellulosic ethanol, butanol, jet fuel, diesel-like molecules and gasoline-like molecules, from non-food biomass. Baseload utility scale electric power can also be generated from the biomass feedstocks grown from its seeds. Ceres has sold switchgrass and high biomass sorghum seeds in the United States under its Blade Energy Crops (Blade) brand. In January 2010, the Company incorporated a subsidiary, Ceres Sementes do Brasil Ltda.
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