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Cereplast reported preliminary revenue for its first quarter

April 19/2011

(Cereplast) -- Cereplast, Inc., a leading manufacturer of proprietary biobased, compostable and sustainable plastics, today reported preliminary revenue for its first quarter ended March 31, 2011.

Cereplast expects to report first quarter 2011 revenue of USD 7.2 million, exceeding the high-end of its previous first quarter guidance of USD 5.0 million to USD 6.5 million for the quarter. Based on these preliminary results, the company has raised its full-year 2011 revenue guidance to USD 28.0 million to USD 34.0 million, from its previously stated 2011 guidance of USD 24.0 million to USD 32.0 million, representing a significant increase over its 2010 revenue of USD 6.3 million.

Cereplast, Inc. designs and manufactures proprietary bio-based, sustainable plastics which are used as substitutes for petroleum-based plastics in all major converting processes - such as injection molding, thermoforming, blow molding and extrusions - at a pricing structure that is competitive with petroleum-based plastics.

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