Amyris Biotechnologies Inc. Appoints New CFO According to BAC Company Report06 Jun 2012 • by Natalie Aster
LONDON – Late March Amyris Inc announced appointment of new Chief Financial Officer, Steven R. Mills, who replaced Jeryl L. Hilleman on his duty. The replacement went effective May 2. Mills has long been ADM senior manager, occupying CFO position in 2008-2010. Now he is working within Amyris instead of Hilleman who first spoke about his retirement in August 2011.
Amyris is still undergoing financial losses and should become profitable in the next four years. No financial forecast can be delivered for Amyris: it has too short operating history. The results of FY 2011 revel revenue of USD 147 M, gross profit of USD (8.6) M, operating income of USD (179.2) M, and net income of USD (178.9) M. The results of Q1 2012 uncover revenue of USD 29.5 M, gross profit of USD (14.3) M, operating income of USD (94.1) M and net income of USD (94.5). The quarter was weak for Amyris due to subdued operations in Amyris Fuels.
Founded in 2003 and headquartered in Emeryville CA (USA), Amyris Inc engages in research and development of sustainable alternatives to petroleum-sourced products. The company has contracts with manufacturing plants, and is in the process of construction of its own production facility in Brazil. The company has two subsidiaries: Amyris Brasil Ltda controlling Brazilian operations, and Amyris Fuels LLC managing US market. Amyris trades on NASDAQ under the ticker AMRS.
Further information on the company’s present goals, strategies, business possibilities and experts’ forecasts can be found in the report "Amyris Biotechnologies Inc. Fundamental Company Report Including Financial, SWOT, Competitors and Industry Analysis" recently published by Market Publishers Ltd.
Title: Amyris Biotechnologies Inc. Fundamental Company Report Including Financial, SWOT, Competitors and Industry Analysis
Date: May, 2012
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