Ceres Q3 Loss Widens

(RTTNews) - Energy crop company Ceres Inc. (CERE) reported third-quarter net loss of $9.3 million or $0.38 per share, wider than $8.4 million or $0.34 per share in the comparable quarter last year.

Total revenues for the quarter rose to $1.36 million from $1.15 million in the year-ago period. The increase was due to higher product sales of $0.4 million, which consisted primarily of biomass sales as well as recognition of deferred revenue related to certain sales incentive and promotional programs during the 2012-2013 growing season in Brazil.

On average, analysts polled by Thomson Reuters expected the company to report a loss of $0.31 per share on revenue of $1.05 million in the quarter.