Celera projected its fiscal 2008 to have $135 to $140 million in revenues, with expenses in R&D of $40 to $45 million and SG&A at $70 to $75 million.  Celera anticipated at its last earnings date that it will be profitable on a non-GAAP basis for fiscal 2008, although non-GAAP earnings may be near break-even for the fourth quarter.

It also noted that it anticipates a year-end balance of $330 to $340 million in cash and short-term investments after it makes payments to the alliance with Abbott for the settlement charge associated with the Innogenetics litigation and working capital requirements.

Shares of Celera are up almost 3% at $12.96 at 1:50 PM EST and that move is actually on thin volume of only 3355,000 shares (average volume is about 550,000 shares). It’s almost like some traders have made the proper ties today but with thin volume it seems that many have overlooked the tie.

Celera is a molecular diagnostics operation in identification and validation of diagnostic markers using its proprietary genomics and proteomics discovery platforms.

deCODE genetics Inc. (NASDAQ: DCGN) is another company that wants to develop drugs and diagnostics using genetics and genomics that is based in Iceland.

Jon Ogg
June 12, 2008