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Ciphergen Q4 Revenues Slide 35 Percent as Profit Turns to Loss

NEW YORK, Feb. 17 (GenomeWeb News) - Ciphergen yesterday reported that its fourth-quarter sales fell 35 percent to $6.6 million from $10.1 million during the year-ago period, as net income fell into the red.

 

Research and development costs fell to $3 million from $3.7 million a year ago.

 

Ciphergen reported a net loss of $9.2 million, or $0.26 per share, versus a net income of $10.3 million, or $0.35, in the fourth quarter of 2004. The company said the results included a $2.5-million non-cash charge for the impairment of goodwill.

 

As of Dec. 31, the company had $25.7 million in cash and cash equivalents.

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