>>ANN ARBOR, Mich., Jan. 10 /PRNewswire/ -- Genomic Solutions Inc. (Nasdaq: GNSL - news) today announced the signing of an amended distribution agreement with Boston, Massachusetts-based PerkinElmer Life Sciences.
Under the newly revised agreement, PerkinElmer will have the non-exclusive right and responsibility to engage in sales, marketing, distribution and field service activities of all Genomic Solutions products outside of the United States and Japan. In addition, PerkinElmer will have non-exclusive distribution rights for Genomic Solutions' GeneTAC HybStation and all Investigator (TM) proteomic electrophoresis products worldwide, including the United States and Japan. The agreement also gives PerkinElmer non-exclusive distribution rights to the GeneTAC G3 Library Management Workstation worldwide, except in Japan.
PerkinElmer will also have non-exclusive distribution rights to Cartesian Technologies products worldwide, except in countries where prior agreements between Cartesian and other third parties prohibit additional country distributors.
``Thanks to the excellent working relationship we have enjoyed with PerkinElmer, more customers around the world have access to Genomic Solutions products, giving them versatile choices in their genomic and proteomic research work,'' notes Jeffrey Williams, President and CEO. ``PerkinElmer purchases of Genomic Solutions' instruments and other products nearly doubled in 2001, as compared to 2000. This rapid sales growth over the last two years demonstrates PerkinElmer's commitment to Genomic Solutions and illustrates the key role Genomic Solution's plays in their overall product offering. Revising the Agreement to non-exclusive distribution rights allows Genomic Solutions to develop additional distribution channels to respond to regional or local market needs.''
``We value our relationship with Genomic Solutions,'' said John Engel, President, PerkinElmer Life Sciences. ``This amended agreement gives PerkinElmer access to a number of key Genomic Solutions products in the US and Japan, helping us provide complete solutions for customers performing functional genomics and proteomics research.''
``PerkinElmer will continue to be a distributor for proteomic instruments worldwide, except in the U.S. and Japan. The combination of PerkinElmer's increasing emphasis on the proteomic market with their own branded products and the established Genomic Solutions Investigator Proteomic System, will provide PerkinElmer a unique proteomic product offering to meet market demands,'' he added.
``This amended agreement allows PerkinElmer to continue their strong momentum in Europe and Asia, as well as adding certain Genomic Solutions products to their Life Science strategy in the United States and Japan,'' notes Christine Ethier, Vice President for International Business at Genomic Solutions. Both organizations will benefit. Genomic Solutions benefits by having more ``feet on the street'' in the US and Japan and PerkinElmer by adding additional products to their overall product mix, Ms. Ethier continued.
Genomic Solutions also reiterated its financial forecast of revenues between $30 million and $36 million and earnings before interest, tax, depreciation and amortization (EBITDA) of between $800,000 and $2.8 million for 2002. For the first quarter of 2002, the Company projects revenues of between $6.7 million and $7.4 million. In addition, the Company announced that it expects revenue for the fourth quarter of 2001 to be between $4.3 million and $4.4 million, although this is a preliminary financial estimate that is subject to final accounting and review processes, and therefore, could change.<<
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