NEW YORK, April 27 (GenomeWeb News) - Celera Genomics' revenues fell sharply while its losses narrowed during the fiscal year 2004 third quarter, the company said today.
Revenues for the quarter decreased to $11.2 million, from $20.3 million during the same quarter last year. Celera attributed most of this decrease to expiring customer agreements.
Celera's R&D spending was $28.3 million, up from $27 million during the year-ago period.
The company's net loss for the quarter narrowed to $21.9 million, or $.3 per share, from $26.7 million, or $.37 per share, during the same period last year.
As of March 31, Celera Genomics, a unit of Applera, had $739 million in cash and short-term investments.