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Orchid BioSciences Q2 Revenues Rise

NEW YORK, July 29 (GenomeWeb News) - Orchid BioSciences today reported second quarter revenues of $15 million, a significant gain on its 2003 second quarter revenues of $12.4 million.


The Princeton, N.J.-based firm said that its service revenues climbed to $14.8 million from $12.2 million in the comparable quarter a year ago. The firm attributed the revenue growth to an increase in testing volume.


Orchid reported a net loss for the quarter of $1.8 million, or $.08 per share, compared to a net loss of $5.5 million, or $.55 per share, in the second quarter a year ago.


Orchid, which provides genetic testing services for the paternity, forensics, and food safety markets, finished the quarter with $31.1 million in cash and cash equivalents.

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