Celera 1Q Loss Narrows On Revenue Boost

ALAMEDA, Calif. (AP) — Celera Corp., a laboratory testing products and disease management services company, said Wednesday its first-quarter loss narrowed on higher lab service revenue and product sales.

The company said it lost $1.4 million, or 2 cents per share, compared with a loss of $7.4 million, or 9 cents per share, during the same period a year prior. Revenue rose 16 percent to $45.7 million from $39.5 million.

Analysts polled by Thomson Reuters expected a loss of 2 cents per share on revenue of $45.1 million.

Celera was part of Applera Corp. until July 2008, but was separated from Applera after that company's other component, Applied Biosystems, was sold to Invitrogen Corp. Those two companies combined into Life Technologies Corp.

Lab services revenue rose 28 percent to $28.5 million, while products revenue increased 12 percent to $10.4 million. Corporate revenue fell 14 percent to $6.8 million because of lower licensing payments and royalties.

Looking ahead, the company expects mid-single digit earnings per share, excluding charges, in 2009 on revenue between $192 million and $202 million. Analysts expect a loss of 1-cent per share on revenue of $197.1 million.

Shares of Celera fell 27 cents, or 3.4 percent, to close at $7.71.