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4Q Financial Reports: Gene Logic

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Gene Logic

4Q Revenues: $22.4 million (+12%)

4Q Loss: $2.1 million (loss of $4 million in 4Q2004)

FY Revenues: $79.4 million (+5%)

FY Loss: $48.3 million (loss of $28.5 million FY2004)

Comments: Genomics Services revenue increased $3.7 million, or 27% for the quarter and increased $4.4 million, or 8% for the year. Nonclinical Services revenue decreased $1.6 million, or 26%, for the quarter, reflecting continued business development and capacity utilization challenges and decreased $1.6 million or 7%, for the year. Drug Repositioning and Selection Partnerships (“DRS Business”) recorded a small amount of revenue in the quarter and for the year.

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