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Celera Genomics reports net loss of $7.1 million for Q1
By Lisa Kerner
Charlotte, N.C., Oct. 25 - Celera Genomics Group said it had a net loss of $7.1 million, or $0.09 per share, for the first quarter of fiscal 2007 ended Sept. 30, compared to a net loss of $16.7 million, or $0.23 per share, for the prior-year period.
Revenues for the quarter were up slightly at $10.2 million, from $9.2 million for the first quarter of fiscal 2006. The total for the first quarter of 2006 included $2.1 million of revenues from the discontinued Online/Information and Paracel businesses, according to a company news release.
Total end-user revenues increased 45% to $25.8 million, from $17.8 million in the year-ago quarter.
Research and development expenses for the first quarter were down at $13.2 million, from $29.5 million in the prior-year quarter.
At Sept. 30, the group's cash and short-term investments were $566.4 million, compared with $569.5 million at June 30.
"This has been another very good quarter for Celera as we continued to focus on growing our molecular diagnostics business," chairman, president and chief executive officer Tony L. White said in the release.
"We're executing on our strategy of penetrating the existing molecular diagnostics market and also saw the launch by Specialty Laboratories of the first new genetic test based on Celera original research."
Looking ahead, Celera Genomics said it anticipates fiscal 2007 revenues of $40 million to $45 million, including $8 million to $12 million from licensing and collaborations.
The company expects to use roughly $35 million to $45 million of cash and short-term investments, down from the prior guidance of $45 million to $55 million, to fund operations, product placement and cash costs related to the fiscal 2006 restructuring.
Celera Genomics is an Applera Corp. company based in Rockville, Md., that develops molecular diagnostics products.
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