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Gene Logic s Revenues Up in Q4; Boehringer Ingelheim Renews License

Please click here for an updated version of this article.


NEW YORK, Feb. 20 (GenomeWeb News) - Gene Logic reported increased revenues and slightly narrowed losses for the fourth quarter of 2003.


Revenues for the quarter increased to $19.7 million, up from $14.8 million during the same period in 2002.


R&D costs decreased to $.5 million, from $.8 million during the same quarter a year ago.


The company's net loss decreased slightly to $4.9 million, or $.16 per share, from $5.2 million, or $.19 per share, during the fourth quarter a year ago.


As of Dec. 31, Gene Logic had approximately $111.8 million in cash, cash equivalents and marketable securities available-for-sale. This includes $48.7 million in cash and cash equivalents.


Click here for the full earnings report.


Separately, Gene Logic said that Boehringer Ingelheim has renewed its license to Gene Logic's GeneExpress information services for several years.


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