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Amyris, Inc. (AMRS) saw its loss widen to $37.37 million, or $0.13 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $15.31 million, or $0.12 a share. On an adjusted basis, net loss for the quarter was $38.16 million, when compared with $34.72 million in the last year period. Revenue during the quarter surged 47.32 percent to $12.98 million from $8.81 million in the previous year period. Gross margin for the quarter period stood at positive 1.63 percent as compared to a negative 26.86 percent for the previous year period.
Operating loss for the quarter was $27.34 million, compared with an operating loss of $26.54 million in the previous year period.
"We are pleased with our continued execution delivering increased product sales and very healthy revenue growth for Amyris," said John Melo, Amyris president chief executive officer. "We are very excited to join with Royal DSM to accelerate product sales in health and nutrition markets, deliver better performing products and accelerate market access. With their support and that of our investors we have significantly strengthened our balance sheet and the company foundation as a leading company in its sector."
Working capital remains negativeWorking capital of Amyris, Inc. was negative $77.55 million on Mar. 31, 2017 compared with negative $67.12 million on Mar. 31, 2016. Current ratio was at 0.24 as on Mar. 31, 2017, down from 0.29 on Mar. 31, 2016. Cash conversion cycle (CCC) has decreased to 13 days for the quarter from 74 days for the last year period. Days sales outstanding went down to 48 days for the quarter compared with 62 days for the same period last year.
Days inventory outstanding has decreased to 25 days for the quarter compared with 75 days for the previous year period. At the same time, days payable outstanding went up to 86 days for the quarter from 64 for the same period last year.
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