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Increased Online Subscriptions Stem Celera s Q2 Loss

NEW YORK, Jan. 23 - Celera Genomics on Wednesday reported a narrowed second-quarter loss narrowed atop increased subscriptions to its online database.

 

Revenue for the period ended Dec. 31 rose to $35 million from $20.3 million in the year-ago period, Celera said in a statement. This helped the company post losses before special items of $18.9 million, or 29 cents a share, compared with $29.7 million, or 49 cents a share, year over year. After all charges, the company posted a net loss of $1.82 per share.

 

Analysts polled by Thomson Financial/First Call had expected Celera to lose between 31 cents and 56 cents a share, with an average estimate of 40 cents.

 

Celera has some $900 million in the bank.

 

R&D expenditures for the quarter were $30.6 million, compared with $42.3 million in the same period last year. R&D expenses associated with therapeutic discovery programs also continued to increase in comparison to the prior year.

 

"The online information business continued to expand both its customer base and its product content and functionality, driving large year-over-year increases in revenues and offsetting some of our discovery R&D costs," said Tony While, CEO of Applera, Celera's parent company.

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