MBI sales up 198% in Q2 2013

The US biopesticide company, Marrone Bio Innovations (MBI), revenues sharply increased by almost 200% to $4.5 million in the second quarter ended June 30, 2013. It was the company's first reporting period as a publicly listed company following its initial public offering (IPO) in August.  The company received $56 million in net proceeds in connection with its IPO, which closed on August 7, 2013. The impact of the IPO is not included in the Company's financial results for the period ended June 30, 2013, the company notes.

Product sales rose by 211% to $4.4 million in the second quarter of 2013. Licensing revenues decreased by 8% to $81,000. Product sales for first half year were up by 109% to $7 million compared with $3.4 million of previous year. Licensing revenues for six months boosted by 24.0% to $162,000. For the full year 2013, the company expects revenues to approximately double compared to the full year 2012.

MBI's sales results($ 000)
Q2 ended June 30	Q2 2013	Q2 2012	%change	Six-month 2013	Six-month 2012	%change
Revenues	4,500	1,509	+198.2	7,230	3,508	+106.1
Products	4,419	1,421	+211.0	7,068	3,377	+109.3
Licensing	81	88	-8.0	162	131	+23.7
Gross profit	1,102	8,25	+33.6	2,037	1,964	+3.7