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Biacore s Q4 Revenue Flat, Though Sales in US Plummet 24 Percent

NEW YORK, Feb. 17 (GenomeWeb News) - Biacore of Sweden today reported a decrease in earnings and a slight fall-off in sales for the fourth quarter of 2004.

 

Sales for the three months ended Dec. 31 fell to 158.6 million Swedish kronor ($22.8 million) from 160.8 million Swedish kronor a year ago. While sales in Europe increased by 18 percent, and by 15 percent in Japan, sales in the USfell by 24 percent.

 

R&D expenses increased slightly, to 23.4 million Swedish kronor from 21.9 million Swedish kronor during the same quarter last year.

 

Biacore's net income declined to 20.6 million Swedish kronor, or 2.11 Swedish kronor per share, down from 55.4 million Swedish kronor, or 5.67 Swedish kronor per share, during the same period last year. Much of this shortfall was due to non-recurring costs of 32 million Swedish kronor related to a "turnaround program" announced last October. The company posted a net loss for the full year of 2004, and this move was designed to bring the firm back to profitability in 2005.

 

As of Dec. 31, Biacore had 363.9 million Swedish kronor in liquid funds.

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