Cereplast Inc (OTCMKTS:CERP) All Set To Announce Q3 Results On 14th Nov
Cereplast Inc (OTCMKTS:CERP), a manufacturer of bio-based compostable and sustainable bioplastics, is all set to announce their third quarter earnings on Thursday, November 14, 2013. The company said its CEO Frederic Scheer and CFO Michael Okada will also host a conference call to discuss the company’s earnings the same day.
Last week, the company announced an update on the potential opportunities the United States is creating for the bioplastics industry. If Cereplast it to be believed then the federal and regional laws are expected to create somewhere about $180 million bioplastics market revenue annually, out of which Cereplast if bullish of capturing several million next year.
There are several initiatives across the US and the world taken to ban plastics and even take enforcement actions against plastic companies for not complying with Green Guides issued by The Federal Trade Commission (FTC). This opens up opportunity for companies dealing in the bioplastics products. And, Cereplast, whose products are biodegradable and even meet industry standards for compostability, is looking at this as a win for the company.
“We are extremely pleased to see the FTC taking a stance against false marketing claims that harm the bioplastics industry. We are also pleased to see cities such as New York moving toward composting their waste. This is a tremendous opportunity for the Company, and we are aggressively targeting sales developments in the region,” the company’s CEO stated.
Cereplast Inc (OTCMKTS:CERP), which sees this as a revenue generating opportunity for the company, also announced last month that there about 30 projects underway in North America with a potential volume of $10 million annually. It said the company is bullish on regions in North America that have banned conventional plastics, and is offering alternatives to single-use disposable items such as bags, carry-out containers and straws.
Early last month, Cereplast Inc (OTCMKTS:CERP) said it had received the $1.4M purchase-order for the Cereplast Biopropylene-101 from an Indian company Dugar Eximark Private Limited.
Metabolix, Inc. (NASDAQ:MBLX), a close competitor of Cereplast, released its third quarter earnings last week with $0.9 million in revenues, compared to $0.7 million for the same quarter in 2012. The company also managed to narrow its losses marginally, by reporting a net loss of $7.3 million, or $0.21 EPS, for Q3, as compared to a net loss of $7.7 million, or $0.23 EPS, last year.