Southern Research Institute Genome Explorations Link Up
Southern Research Institute of Birmingham, Ala., and Genome Explorations, an Affymetrix-based microarray services provider, announced this week that they have entered a collaborative agreement to pursue joint development programs in pharmaceutical target identification using gene expression profiling, and to co-market individual and combined services.
Financial details of the deal were not disclosed.
Southern Research Institute is a preclinical contract research and development organization focusing on cancer drugs.
ABI Q1 Revenues ‘Disappointing,’ Says Applera Chairman Tony White
The Applied Biosystems unit of Applera last week reported net revenues of $382.7 million for the first fiscal quarter ending Sept. 30, down $13.2 million compared to the same quarter of 2002.
“Revenues at Applied Biosystems in the first quarter were disappointing,” said Applera chairman Tony White. ABI was nevertheless seeing “modest improvements in the research funding situation with our US government-funded customers and in the pharmaceutical sector,” and was positioned favorably due to “aggressive investments” in new products.
Applied Biosystems reported an increase in net income year-over-year: Net income rose to $33.4 million for the quarter, compared to $17.8 million for the year-ago period. This rise in net income reflects the fact that the company recorded a loss of $16.4 million from discontinued operations the same period last year.
The company recorded research and development expenses of $59.6 million, compared to $61 million for the same quarter in 2002.
Broken down by sector, the company’s DNA sequencing revenues dropped to $124.8 million, compared to $149.3 million in the first fiscal quarter of 2003; SDS and other applied genomics revenues increased to $94.3 million, from $83.5 million in the same period last year; mass spectrometry revenues were nearly flat at $82.4 million, compared to $84.2 million in the year-ago quarter; core DNA synthesis and PCR revenues increased slightly to $51.2 million, from $49.0 million in the same period last year; and other product lines were flat at $30.0 million, compared to $29.9 million in the same period last year.
For the remainder of the year, ABI is holding to its FY 2004 forecast of “single-digit annual revenue growth, weighted toward the second half of the fiscal year,” said CFO Dennis Winger.
As of Sept. 30, ABI had $590.8 million in cash and cash equivalents.
Qiagen Q3 Revenues, Income Up
Qiagen reported revenues of $90.4 million for the third quarter of 2003 this week, up from $76.9 million for the same period last year.
The Venlo, Netherlands-based company’s net income for the quarter rose to $11.8 million, compared to $7.3 million in the third quarter of 2002. Qiagen’s R&D expenses were nearly flat at $7.5 million, compared to $7.3 million for the same period last year.
As of Sept. 30, Qiagen had $75.3 million in cash and cash equivalents, compared to $44.9 million for the same period last year.
Gene Logic Reports Increased Revenue, Losses
Gene Logic of Gaithersburg, Md., last week reported a 25 percent increase in year-over-year revenues for the third quarter, posting $17.7 million in revenues this quarter compared with $14.2 in the third quarter of 2002. The company attributed the increase to its recent acquisition of TherImmune Research, which was completed April 1. This increase is down from a 38 percent increase year-over-year in the second quarter of 2003.
Gene Logic’s net loss for the quarter was $10.1 million, compared with $7 million in the year-ago period. The company spent $540,000 on R&D, compared with $641,000 in 2002.
As of Sept. 30, the company had $71 million in cash and cash equivalents.
Luminex Q3 Revenues Double, Losses Narrow Significantly
Luminex last week reported increased net revenues for the third quarter, and significantly narrowed net losses.
The Austin, Texas-based company, which makes the xMap bead assay system for life sciences research, reported revenues of $7.2 million for the quarter, compared to $3.6 million for the third quarter of 2002.
Net losses for the quarter came to $.9 million, compared to $5.8 million for the same period last year.
The company’s R&D expenses decreased to $.7 million, from $1.2 million for the year-ago period.
As of Sept. 30, Luminex had $40.2 million in cash and cash equivalents.