Evogene Ltd. |
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Three Months Ended
December 31 |
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2011 |
2010 |
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| Revenues ($m) |
4.7 |
4.7 |
| Gross Profit ($m) |
2.0 |
3.1 |
| Gross Margin |
42% |
66% |
| Operating Income (Loss) ($m) |
-0.8 |
0.2 |
| Financial Income (Expenses), net ($m) |
0.0 |
-0.8 |
| Net Income (Loss) ($m) |
-0.9 |
-3.0 |
| Basic Earnings (Loss) Per Share ($) |
-0.02 |
-0.10 |
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Year Ended December 31 |
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2011 |
2010 |
2009 |
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| Revenues ($m) |
14.9 |
12.6 |
10.0 |
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| Gross Profit ($m) |
6.7 |
6.8 |
5.0 |
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| Gross Margin |
45% |
54% |
50% |
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| Operating Income (Loss) ($m) |
-3.2 |
-1.9 |
0.3 |
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| Financial Income (Expenses), net ($m) |
0.3 |
0.7 |
1.3 |
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| Net Income ($m) |
0.6 |
-7.0 |
-3.4 |
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| Basic Earnings (Loss) Per Share ($) |
0.02 |
-0.24 |
-0.13 |
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| Balance Sheet Data ($m) |
12/31/11 |
12/31/10 |
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Total Cash & ST Investments |
58.8 |
35.8 |
| Current Assets |
60.6 |
38.5 |
| Total Assets |
67.9 |
42.9 |
| Current Liabilities |
9.1 |
16.3 |
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Total Equity |
48.1 |
16.7 |
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| Key Financial Ratios |
12/31/11 |
12/31/10 |
| Current Ratio |
6.7 |
2.4 |
| L-T Debt/Equity |
- |
- |
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| Dividend Policy |
| The company does not currently distribute dividends. |
| Main Shareholders (March 20, 2012) |
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| Monsanto |
8.93% |
| Psagot Pension Funds |
5.38% |
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Improved yield Improved yield allows better utilization of existing arable lands by increasing productivity per plant or per area unit. In order to keep up with the current growth in world population and the continuous improvements in quality of life in developing countries, agricultural output would have to double by 2050. Evogene’s Monocot program focuses on improved yield enhancement for corn, wheat and rice, the world’s three main staples, which are used for both human and animal consumption. In addition, the Dicot improved yield program focuses on soybean, canola and cotton, which are used for a multitude of purposes, from food and feed to fuel and fiber. |
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Abiotic stress tolerance Abiotic stresses such as drought conditions, soil salinity and heat stress, results in reduced yield. Improving plant tolerance to these stresses increase yield and enables the use of semi-arable lands for agricultural production. Developing plants displaying improved tolerance to abiotic stress has an important impact on crop productivity and agricultural supply, especially in light of global warming, erratic climate changes and annual loss of agricultural farming land. Evogene’s program for improving plant resistance to abiotic stress was initiated in 2003 and focuses on key crops, such as corn, cotton, soybean and wheat. |
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Improved nitrogen use efficiency Improved nitrogen use efficiency results in higher yield using fewer resources by enhancing the plant's utilization of nitrogen fertilizer, which reduces costs as well as land and water pollution. Nitrogen fertilizers represent one of the largest input costs in agriculture, accounting for almost 25% of the operating costs for a corn producer. Plants typically absorb less than half of the nitrogen fertilizer applied, and most of the rest leaches into the groundwater and pollutes the environment. |
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Biotic stress tolerance Biotic stress tolerance reduces costs due to use of pesticides as well as soil and water pollution. Evogene is currently focusing on developing pest-resistant crops such as soybeans resistant to cyst nematodes; soybeans resistant to soybean rust; and bananas displaying resistance to Black Leaf Streak disease. |
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Evofuel Evofuel Ltd., a wholly owned subsidiary of Evogene, develops and commercializes seeds of second-generation feedstock for the growing biofuel market. The company applies advanced breeding together with agro-technique expertise in order to improve potential biofuel feedstock and enable efficient and sustainable large scale production of biofuel crops. Evofuel is focused on developing advanced high yielding castor bean varieties as a sustainable and competitive feedstock for the biodiesel and biojet industries. Evofuel aims at delivering castor bean oil, with potentially tens of millions of hectares worldwide for planting, at a price equivalent to $50/barrel. Evofuel currently focuses on Brazil as its primary target location for commercial production of its varieties. Evofuel partnered with SLC Agricola, a leading Brazilian agribusiness, producing 250,000 hectares of soybean, cotton and corn, to develop castor varieties for commercial production in Brazil. Evofuel also partnered with NASA and Honeywell's UOP to demonstrate suitability of castor as feedstock for jet-fuel alternatives and define product performance specifications. |
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