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Geneart's First-Half '09 Sales Rise 3 Percent

NEW YORK (GenomeWeb News) – Geneart today reported that its sales for the first half of 2009 increased 3 percent to €8.1 million ($11.6 million) from €7.9 million for the first half of 2008.

The Regensburg, Germany-based gene synthesis firm said that its EBITDA for the first half was €800,000 versus €1.4 million for the comparable period a year ago.

"[D]espite difficult market environment, Geneart managed to compensate for the expiring major contract by the NIH … in the third quarter 2008 by an increasing number of medium-sized and small orders," the firm said in a statement.

Geneart said that it expects net sales of €16 million for full-year 2009, but that could rise to between €17 million and €18 million if the economic environment improves during the second half of this year.

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