REDWOOD CITY, Calif. (AP) _ Codexis Inc. (CDXS) on Thursday reported fourth-quarter net income of $970,000, after reporting a loss in the same period a year earlier.
The Redwood City, California-based company said it had net income of 2 cents per share.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 5 cents per share.
The producer of custom industrial enzymes posted revenue of $21.7 million in the period, also missing Street forecasts. Three analysts surveyed by Zacks expected $23 million.
For the year, the company reported that its loss widened to $23 million, or 50 cents per share. Revenue was reported as $50 million.
Codexis expects full-year revenue in the range of $60 million to $63 million.
Codexis shares have climbed 29 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $10.80, more than doubling in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CDXS at https://www.zacks.com/ap/CDXS