Lion Releases Q3 Earnings, Restates Prior-Year Figures, Adjusts Guidance

Lion Bioscience last week reiterated the preliminary third-quarter earnings it released in early February [BioInform 02-09-04], and restated its results for prior fiscal years, which reflected a change in its revenue recognition policy.

For the third quarter of its current fiscal year, which ended Dec. 31, 2003, Lion’s revenues fell to €5.8 million ($7.2 million), from €8.7 million during the same quarter a year ago.

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