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Gene Logic Lowers Revenue Outlook for 2003

NEW YORK, Sept. 23 (GenomeWeb News) - Gene Logic said that it has lowered its revenue guidance for 2003 to a range of $72 million to $76 million, on a pro forma basis.

In late July, Gene Logic had said it was expecting its pro forma revenues for the year to be between $80 million to $84 million.

Gene Logic said that the pro forma results assume that the company's April 1 acquisition of TherImmune took place on January 1. Actual revenues for the year are expected to be in the range of $65 million to $69 million.