NEW YORK, Feb 7 – Software developer Genomica said Wednesday its fourth quarter 2000 revenues increased to $466,000, compared with $335,000 in the corresponding quarter in 1999, as the number of customers licensing the Discovery Manager software increased and additional users within existing customers rose.
Total operating expenses for the fourth quarter, excluding non-cash compensation charges, increased to $4.0 million, up from $2.4 million in the year ago period. Genomica attributed the increase to higher R&D and selling, marketing, general, and administrative expenses. The costs of revenues, however, fell to $102,000 from $185,000 in the year ago period.
For 2000, losses from operations, excluding non-cash compensation charges, totaled $13.9 million, compared with $7.1 million in 1999. Including the charges, the loss from operations rose to $27.0 million in 2000, compared with $8.0 million in 1999.
Genomica posted a fourth-quarter pro forma net loss of $1.5 million, or seven cents a share, compared with a pro forma net loss of $1.9 million, or 17 cents a share, in fourth-quarter 1999. The pro forma net loss for the fourth quarter excludes non-cash compensation charges of $3.2 million, or 15 cents a share.
For the year, Genomica reported a pro forma net loss of $9.7 million, or 60 cents a share, compared with a pro forma net loss of $5.9 million, or 53 cents a share, in 1999. The pro forma net loss for the year excludes non-cash compensation charges of $14.7 million, or 90 cents a per share as well as one-time non-cash charges for deemed dividends on preferred stock of $17.1 million, or $1.06 per share.
Genomica ended the year with cash and investments of $123.9 million, mostly as the result of the company’s October IPO.
Throughout the year Genomica forged an alliance with Applied Biosystems and added eight new customers, including Aventis Pharma, the craniofacial epidemiology and genetics branch at the National Institute of Dental and Craniofacial Research, and Genome Therapeutics.
The company also grew its staff. Genomica now has 104 employees, up from 56 at the end of 1999.