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

Genome Sequences Reveal Range Mutations in Induced Pluripotent Stem Cells

Researchers in Nature Genetics detect somatic mutation variation across iPSCs generated from blood or skin fibroblast cell sources, along with selection for BCOR gene mutations.

Researchers Reprogram Plant Roots With Synthetic Genetic Circuit Strategy

Root gene expression was altered with the help of genetic circuits built around a series of synthetic transcriptional regulators in the Nicotiana benthamiana plant in a Science paper.

Infectious Disease Tracking Study Compares Genome Sequencing Approaches

Researchers in BMC Genomics see advantages for capture-based Illumina sequencing and amplicon-based sequencing on the Nanopore instrument, depending on the situation or samples available.

LINE-1 Linked to Premature Aging Conditions

Researchers report in Science Translational Medicine that the accumulation of LINE-1 RNA contributes to premature aging conditions and that symptoms can be improved by targeting them.