down 17% on the news: Molecular Devices Updates Guidance for Third Quarter of 2006
Wednesday September 27, 7:31 am ET
SUNNYVALE, Calif., Sept. 27 /PRNewswire-FirstCall/ -- Molecular Devices Corporation (Nasdaq: MDCC - News) today updated guidance for the third quarter of 2006.
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As a result of softer than expected demand from pharmaceutical companies for its Drug Discovery and Life Sciences products generally, the Company is reducing its financial guidance for the third quarter.
For the third quarter of 2006, the Company now anticipates revenues of $44 to $46 million, GAAP fully diluted earnings per share of $0.12 to $0.17 and non-GAAP fully diluted earnings per share of $0.17 to $0.22, excluding $0.05 per share of non-cash stock compensation expense related to SFAS 123R. The Company plans to update full year 2006 guidance in its third quarter earnings release and during its conference call to discuss third quarter operating results and other business matters currently scheduled for Thursday, October 26, 2006.
About Molecular Devices Corporation
Molecular Devices Corporation is a leading supplier of high-performance bioanalytical measurement systems that accelerate and improve drug discovery and other life sciences research. The Company's systems and consumables enable pharmaceutical and biotechnology companies to leverage advances in genomics, proteomics and parallel chemistry to facilitate the high-throughput and cost-effective identification and evaluation of drug candidates. The Company's solutions are based on its advanced core technologies that integrate its expertise in engineering, molecular and cell biology and chemistry. Molecular Devices enables its customers to improve research productivity and effectiveness, which ultimately accelerates the complex process of discovering and developing new drugs. |
