Celera loses 72 cents a share

revenue is up

April 26, 2002|By Julie Bell | Julie Bell,SUN STAFF

Celera Genomics Group said yesterday that its fiscal third-quarter loss widened to $49.5 million despite increased revenue, largely because of charges.

The Rockville-based company reported a per-share loss of 72 cents for the period ended March 31. Revenue was $30.5 million, an increase of more than 30 percent from the $23.4 million reported for the comparable period last year.

The results compare with a loss of $29.1 million, or 48 cents a share last year.

Excluding one-time charges related to Celera's Paracel business of gene-sorting hardware and software, the loss for the quarter ended March 31 was $28.5 million, or 42 cents a share.

Analysts had projected a loss of 49 cents a share, according to the average estimate from 12 analysts surveyed by Thomson Financial/First Call.

Celera's shares lost 45 cents yesterday to close at $15.90 on the New York Stock Exchange. The decline continued fallout from the company's announcement earlier in the week that it was switching strategies to focus solely on discovering drugs.

It has shifted distribution of its information business - which allows drug-researchers to subscribe to databases of genomes, genes and proteins over the Internet - to sister company Applied Biosystems of Foster City, Calif., a maker of scientific tools. Celera will get royalties. The companies are part of Applera Corp. of Norwalk, Conn.

Baltimore Sun Articles
|
|
|
Please note the green-lined linked article text has been applied commercially without any involvement from our newsroom editors, reporters or any other editorial staff.