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Celera Posts Q2 Profit; Revenues Rise on Acquisitions

NEW YORK (GenomeWeb News) – Celera today posted a second-quarter profit of $300,000, or $.00 per share, its first ever quarterly profit. For last year’s fiscal second quarter the firm had posted a net loss of $500,000, or $.01 per share.
 
Celera’s revenues rose more than 200 percent to $40.3 million from $13.2 million year over year. However, this year’s Q2 results include revenue contributions from Berkeley HeartLab and Atria Genetics, which the firm acquired a few months ago. Excluding revenues from those firms, Celera’s sales rose 26.5 percent to $16.7 million.
 
The firm’s R&D costs declined 11.7 percent to $10.6 million from $12 million. Its SG&A costs rose sharply, nearly tripling to $20.1 million from $7.3 million last year.
 
The $195 million acquisition of Berkeley HeartLab in October provided Celera with technologies to develop new predictive molecular diagnostics for cardiovascular disease. Celera also gained a direct marketing vehicle for its tests and a CLIA lab through the purchase.
 
The firm also paid $33 million that month to acquire Atria Genetics, a maker of human leukocyte antigen-testing products used in organ donor matching.
 
“With the acquisition of Berkeley HeartLab, Celera now has greater scale and diversity, a commercial infrastructure to develop the market for tests that incorporate our proprietary discoveries, and a comprehensive platform for cardiovascular disease management,” Tony White, chairman of Celera parent firm Applera, said in a statement. “These advances in the business support the Applera board's preference to prepare Celera for separation from Applera by the end of fiscal 2008.”
 
As reported by GenomeWeb Daily News earlier this month, Celera President Kathy Ordoñez told investors at the JPMorgan Healthcare Conference that Applera’s board of directors recently stated its preference that the affiliated firms be split into two independent entities rather than remaining tracking stocks of Applera.
 
Celera expects to report fiscal 2008 revenues in a range between $135 million and $145 million.
 

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