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Gene Logic Revenues Up 2 Percent in Q4, Losses Narrow 18 Percent

NEW YORK, Feb. 19 (GenomeWeb News) - Gene Logic today reported a 2-percent increase in total revenues and a 6.5-percent decrease in net losses year over year.

 

Total revenue for the three month period ended Dec. 31, 2004, increased to $20 million $19.7 million for the year-ago period.

 

Gene Logic said it spent $967,000 on R&D in the quarter, up from $491,000 year over year.

 

Net loss for the quarter fell 18 percent to $4 million, or $.13 per share, from $4.9 million, or $.16 per share.

 

Cash and cash equivalents on hand as of Dec. 31 included $53 million and $50 million in marketable securities.

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