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Biotech / Medical : Incyte (INCY) -- Ignore unavailable to you. Want to Upgrade?

To: rkrw who wrote (1203)	10/5/1999 12:40:00 AM
From: scaram(o)uche	Read Replies (1) \| Respond to of 3202

ex-V.P. of Finance (eom)

To: rkrw who wrote (1203)	10/5/1999 12:42:00 AM
From: Gary L. Kepler	Read Replies (1) \| Respond to of 3202

Former VP of Finance? See below from CBS Marketwatch. As a result, the net loss should be between $10.6 million to $11.1 million, or 38 to 39 cents a share, said Lee Bendekgey, Incyte's interim chief financial officer. Analysts polled by First Call had expected a loss of 26 cents. While the company expects to report at least 14 percent higher sales for fiscal 1999 of $154 million to $157 million compared to a year ago, it will lose between $24 million to $27 million. In 1998, Incyte made a profit of $3.5 million, or 12 cents a share. Bendekgey said higher research and development expenses led to the loss for 1999. The company expects to incur red ink until the first half of fiscal 2000. Afterwards, it should return to profitability, he said. Incyte said delays in getting two large government contracts and finalizing other sales agreements for the quarter had hurt business. The company will report third-quarter results on Oct. 19.