InforMax Meets Consensus First Quarter Revenue And Net Loss Per Share Estimates
BETHESDA, Md., May 2 /PRNewswire/ -- InforMax, Inc. (Nasdaq: INMX - news) today announced that for the first quarter ended March 31, 2001, it reports revenues of $6.6 million, representing an increase of 105% over the $3.2 million achieved for the same quarter in 2000, and total bookings of $7.0 million, representing an increase of 71% over the same period last year. Both figures meet Wall Street consensus estimates. The Company also reports a net loss per share for the first quarter, excluding non-cash charges related to stock based compensation, of ($0.19), compared to a net loss per share of ($0.46) for the first quarter of 2000. Including these non-cash charges, the Company reports a first quarter net loss per share of ($0.21) compared to a net loss per share of ($0.61) for the first quarter of 2000.
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InforMax also stated that it believes that it will meet current Wall Street consensus revenue and net loss per share estimates for the fiscal year 2001. The Company now estimates a net loss per share for the year in the range of ($0.62) to ($0.68).
Alex Titomirov, Ph.D., Chairman and Chief Executive Officer, emphasized that the Company continues to be comfortable with Wall Street expectations that InforMax will become profitable by the fourth quarter of 2002 and is very optimistic about the Company's prospects for solidifying its leadership position in the bioinformatics software market. ``Our strong revenue and total bookings results for the first quarter reflect continuing strength for both GenoMax, our enterprise bioinformatics platform, and Vector NTI Suite for the desktop,'' he said. ``During the first quarter, we added six new customers for GenoMax, with GenoMax sales during the quarter averaging $545,000, compared with $377,000 in the fourth quarter of 2000. In addition, a top-five pharmaceutical Company purchased a global license for the Vector NTI Suite. Three of the top five pharmaceutical companies have now standardized on our desktop solution.''
``Looking forward,'' said Titomirov, ``we expect to continue to build on our leadership position in the dynamic markets for the enterprise and desktop bioinformatics software solutions. InforMax is best positioned in the industry to support the scientific community in drug discovery and in better understanding the causes of disease by increasing the effectiveness and reducing the time and investment it takes to identify and validate biological targets and discover effective treatments for disease. In recent months, we have taken steps to continue to strengthen our management ranks to lead our anticipated accelerated growth plans for the Company. Given our strong balance sheet, with a cash position of over $75 million, combined with a broad product line and customer base, we plan to move aggressively during the balance of 2001 to grow our business through new product releases and establishing alliances with other major players in the life sciences sector. In addition, we are working diligently towards profitability as we leverage our investment in sales and R&D talent and infrastructure.'' |
