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Lion Bioscience Posts Lower Revenues, Net Loss in Q1

NEW YORK, Aug. 5 (GenomeWeb News) - Lion Bioscience today reported lower first-quarter revenues for its fiscal year 2004/2005, but also lowered its net loss for the period.

 

Lion posted revenues of €4 million ($4.81 million) in the quarter ended June 30, 2004, compared to revenues of €5.5 million for the first quarter of fiscal year 2003/2004. According to the bioinformatics firm, 53 percent of its first-quarter revenues were derived from collaborative projects with Bayer.

 

The company reduced its net loss for the quarter to €2.6 million ($3.13 million) from €4.5 million in the comparable period a year ago. Its costs and expenses for the quarter declined 32 percent to €6.3 million ($7.58 million).

 

Lion said it received three new orders for its SRS software and a new cheminformatics professional services order in North America during the quarter.

 

The Heidelberg, Germany-based firm confirmed its forecast for the current fiscal year, with revenues expected to be €12 million-€13 million and its net loss to be €10 million-€11 million.

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