Skip to main content
Premium Trial:

Request an Annual Quote

Sequenom Restates Q2 Revenue; Firm Overshot Receipts by $1.5M

NEW YORK, Jan. 31 - Sequenom today said it will restate its second-quarter revenue and earnings because it incorrectly recorded $1.5 million in revenue.


Sequenom traced the mistake to the delivery of four systems to one customer in the quarter. As a result, Sequenom's revenue for the three months ended June 30, 2002, will be reduced to $7.7 million--a slight increase over the $7.4 million in revenue reported for the same period in 2001.


The company's net loss for the quarter was also affected, increasing by approximately $500,000 to $15 million. Sequenom reported a net loss of $8.7 million in the second quarter 2001, the firm said.


A company official, Robin Jackman, said the problem arose when four of the nine units Sequenom sold and placed in the second quarter last year were improperly recorded as revenue. He declined to elaborate, but added: "We believe this is an isolated incident."


In a statement, Toni Schuh, CEO, said Sequenom "is working with the audit committee and our independent auditors to take the appropriate corrective actions."

The Scan

Booster Push

New data shows a decline in SARS-CoV-2 vaccine efficacy over time, which the New York Times says Pfizer is using to argue its case for a booster, even as the lower efficacy remains high.

With Help from Mr. Fluffington, PurrhD

Cats could make good study animals for genetic research, the University of Missouri's Leslie Lyons tells the Atlantic.

Man Charged With Threatening to Harm Fauci, Collins

The Hill reports that Thomas Patrick Connally, Jr., was charged with making threats against federal officials.

Nature Papers Present Approach to Find Natural Products, Method to ID Cancer Driver Mutations, More

In Nature this week: combination of cryogenic electron microscopy with genome mining helps uncover natural products, driver mutations in cancer, and more.