Ceres third-quarter revenue up, losses down
Thousand Oaks-based ag-biotech company Ceres Inc. released third quarter results in documents filed with the Securities and Exchange Commission July 15.
Ceres said revenues increased from $1.1 million during the third quarter of 2015 to $1.4 million during the third quarter of 2016. Net losses decreased from $5.9 million, or 98 cents per share, last year to $1.5 million or 8 cents per share.
Ceres showed cash and cash equivalents of $4.2 million on the books.
On June 17, Ceres announced its sale to Minneapolis-based Land ’O Lakes. The company is also facing a lawsuit from three shareholders angry about the sale.
• Contact Philip Joens at pjoens@pacbiztimes.com.
