Evogene (NASDAQ:EVGN) 1Q17 earnings; Revenues Plunge 64%

Evogene (NASDAQ:EVGN) 1Q17 earnings; Revenues Plunge 64%

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Evogene (NASDAQ:EVGN) revealed net loss for the first quarter of $ 4.85 million or  19 cents per share, compared to loss  of $ 3.37 million or 13 cents per share, in the year-ago period.

Headquartered in Rehovot, Israel, the company disclosed, Revenue that reached $ 0.72 million, decreased 64% from $ 2.02 million  a year ago.

The consensus estimates from Thomson Reuters are loss of $ 0.18 per share from $ 4.90 million in revenue.

Ofer Haviv, President and CEO, stated: Important progress continues in all three of our core business areas, Ag-Biologicals, Seed Traits and Ag-Chemicals. We expect our efforts will result in both new opportunities for various types of collaborations and the ability to obtain an increased share of future revenues from products based on our unique capabilities. In our internal bio-stimulant product program within our Ag-Biologicals area, we have obtained positive field trial results showing increased efficacy and stability in corn under drought conditions and now advancing 20 promising microbial strains in second year corn validation field trials.