GNSL, Dow Jones excerpt from today-6/29/00
Genomic offers two lines of robotic systems, one
of which allows customers to generate custom DNA
biochips for sample analysis. Another line is used for
isolating and analyzing proteins.
Boston-based PerkinElmer Inc. (PKI) in January
acquired an $8 million equity investment amounting to
1.3 million of the company's 21 million shares
outstanding, and agreed to distribute its products in
areas outside the U.S., U.K. and Japan, where
Genomic Solutions already has an established
marketing presence.
Genomic Solutions has about 125 customers, and
posted a loss for the year ended Dec. 31 of $10.8
million, or $3.62 a share, on revenue of $12.1 million.
Genomic Solutions' Chief Financial Officer Steve
Richvalsky said the upward bounce in shares was
indeed because of the initiation of coverage by
Lehman Brothers and Dain Rauscher.
But Richvalsky, speaking from the company's
headquarters in Ann Arbor, Mich., added that the
recently announced completion of sequencing of the
human genome is "just the beginning" of genetic
research.
Making use of the newly available information will
require tools like those provided by Genomic
Solutions. The tools identify the function of genes and
the proteins that act on them, Richfalsky said.
"Where we come in is in the next stage," Richvalsky
said. "There's a long road yet to go.">> |
