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CuraGen Shows That 454's Q4 Revenue Dipped 1.1 Percent, Not 16 Percent

This update adds revenue breakdown by business segment and includes 454’s contribution to fourth-quarter 2005 revenue not originally released.
NEW YORK (GenomeWeb News) — A CuraGen spokesperson today disclosed that the company’s 454 Life Sciences unit saw a 1.1-percet dip in total revenue during the fourth-quarter of 2006.
GenomeWeb News yesterday reported that 454’s revenues declined 16 percent during the period after CuraGen said consolidated receipts for the three months ended Dec. 31, 2006, were $8.9 million compared with $10.6 million for the same period one year ago.
According to CuraGen, total consolidated fourth-quarter revenue in 2006 comprised $4.8 million from product sales, $2.5 million from sequencing services, $390,000 from collaborations, and $1.2 million from milestones. This revenue was generated entirely by 454.
During the same period one year ago, total consolidated revenue comprised $6.3 million from instrument and reagent sales and royalties, $3.4 million from collaborations, and $851,000 from grants.
CuraGen did not disclose 454’s revenue contribution for the period, but at the request of GenomeWeb News late yesterday afternoon, the spokesperson originally said 454 contributed "at least $7.3 million" to the total amount. This morning he amended that figure to $9 million.
Distribution partner Roche sold more than 40 of 454’s sequencers in 2006, the company said.  
R&D spending dipped to $15.18 million from $15.24 million year over year.
The company said loss declined to $15.6 million from $15.8 million in the year-ago period.
CuraGen said it expects 454’s revenues to be between $50 million and $55 million for the year.  
CuraGen said it had around $170 million in cash and investments as of Dec. 31.
CuraGen said it is still working with Goldman Sachs to consider strategic options for 454.

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