Celera Genomics Tops Estimates as Revenue More Than Doubles

Earnings Scorecard
Actual	Estimated*	Year-Ago
-$0.49	-$0.58	-$0.47

Gene research company Celera Genomics(CRA Quote - Cramer on CRA - Stock Picks), a division of Applera, said its loss in the second fiscal quarter ended Dec. 31 was narrower than expected because of higher-than-anticipated revenue in the quarter.

The Norwalk, Conn., company reported a loss of $29.7 million, or 49 cents a share, compared with a loss of $24.3 million, or 47 cents a share, in the same period a year earlier. The loss was narrower than the 58 cents projected by a consensus estimate of 10 analysts polled by First Call/Thomson Financial.

Celera said its revenue for the second quarter increased to $20.3 million, compared with $8.3 million for the same period last year. The company attributed the jump in revenue to subscription agreements with commercial and academic customers.

The company's stock was off 44 cents, or 0.9%, to $49.94 this morning.