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Celera s Revenues Down, Losses Narrowed in Q4; Will Sell Rockville Facility

NEW YORK, July 28 (GenomeWeb News) - Celera Genomics today reported narrowed losses and a drop in revenues in the fourth quarter of its fiscal year 2004.

 

It also said that it was planning to sell its facility in Rockville, Md.

 

Celera, a unit of Applera, reported a net loss of $5.8 million for Q4 2004 as compared to $19.4 million in Q4 2003. The company said the Q4 results included a $24.8 million pre-tax gain associated with the  sale of its investment in Discovery Partners International, as well as an $18.1 million non-cash pre-tax charge representing the estimated loss on the planned Rockvillesale.

 

The $18.1 million write-off is due to losses Celera expects to incur after selling the two-building facility in Rockville. Robert Bennett, a spokesman for the company, said Celera bought the property at the height of the market and would sell it at a loss.

 

He also said the company would lease the facility from its new owners, and retain the proteomics and bioinformatics divisions that work there.

 

Celera's revenues decreased to $12.4 million in Q4 2004, from $21.5 million in the same quarter last year. The company attributed the losses primarily to continuing expiration of online and information business customer agreements.

 

The company saw a slight rise in its R&D spending in Q4 2004, to $29.4 million, from $28.5 million in Q4 2003. Celera said the rise was primarily to support preclinical development activities and the hiring of additional therapeutic R&D personnel.

 

As of June 30, Celera's cash and short-term investments totaled approximately $746 million.

 

Julia Karowcontributed to this report.

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