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Biotech / Medical : Xenogen (XGEN) -- Ignore unavailable to you. Want to Upgrade?

To: tuck who wrote (21)	5/11/2005 6:11:31 PM
From: tuck	Read Replies (1) \| Respond to of 45

>>ALAMEDA, Calif., May 11 /PRNewswire-FirstCall/ -- Xenogen Corporation (Nasdaq: XGEN - News), maker of advanced imaging systems including instruments, biological solutions and software to accelerate drug discovery and development, today reported financial results for the 2005 first quarter ended March 31, 2005. Total revenue for the first quarter of 2005 was $9.3 million, a 32% increase over 2004 first quarter revenue of $7.0 million. The revenue growth reflects increased IVIS unit sales and a higher average sales price per IVIS unit. Loss from operations for the first quarter of 2005 was approximately $5.0 million, compared to $6.4 million for the 2004 first quarter. Net loss for the first quarter was $5.1 million, or a loss of $0.35 per share, compared to a net loss of $6.2 million, or a loss of $6.55 per share, for the same quarter last year. "We see continued strong demand for our state-of-the-art imaging systems," said David Carter, Chairman and Chief Executive Officer. "Instrument sales were seasonally strong in our academic market and our international distributors sold more units this past quarter than ever before. Demand for our flagship system, the IVIS 200, has exceeded our plans and we are adding capacity to raise production volume accordingly. We believe our continued strong sales momentum reflects increasing customer recognition of the power of biophotonic imaging." Xenogen introduced its next generation imaging system, the IVIS 3D, at the scientific meeting of the American Association of Cancer Research in April 2005, where it began taking orders. Xenogen expects that the IVIS 3-D Imaging System will be commercially available in the Fall of 2005. This permits the Company to incorporate certain new performance features and industrial design elements to enhance its value proposition. When launched, the IVIS 3-D Imaging System, as well as Xenogen's other imaging systems, will include a new look and feel. "In the first quarter, we sold three commercial IVIS systems, which is a strong start for Xenogen historically. We are continuing to develop new commercial accounts. New commercial customers during the first quarter of 2005 include Infinity Pharmaceuticals, Wyeth Pharmaceuticals and MIR Preclinical Services. In the second quarter 2005, we completed an agreement with Genentech."<< snip Hmmm. Gonna have to listen to the CC. The revenue number beat the estimates, but the earnings number missed pretty substantially. Pending a listen, I like XGEN at these levels now. Insiders basically standing pat, some selling of late, with the stock below the mid $5s where the CEO bought last fall. Cheers, Tuck