Senomyx Earnings: Here’s Why the Stock is Rising Now
Senomyx Inc. (NASDAQ:SNMX) had a loss and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 7.89%.
Senomyx Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.07 in the quarter versus EPS of $-0.05 in the year-earlier quarter.
Revenue: Decreased 8.78% to $7.48 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Senomyx Inc. reported adjusted EPS loss of $0.07 per share. By that measure, the company missed the mean analyst estimate of $-0.04. It missed the average revenue estimate of $8.45 million.
Quoting Management: “This is an exciting time for Senomyx as we move forward with implementation of our new direct sales strategy,” stated Kent Snyder, Chief Executive Officer of the Company. “Our direct sales initiative is intended to allow Senomyx to have a greater role in the commercialization of our flavor ingredients and increase the value that Senomyx derives from our discoveries. We believe both of our recently announced agreements with Firmenich support these important objectives.”
Key Stats (on next page)…