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Biotech / Medical : Visible Genetics Inc.(VGIN) -- Ignore unavailable to you. Want to Upgrade?

To: LPasko who wrote (140)	1/18/1998 12:20:00 PM
From: scaram(o)uche	Read Replies (1) \| Respond to of 337

I bailed a few days ago when the bid hit 9 7/16. Not planning on staying out for long, however......

To: LPasko who wrote (140)	1/22/1998 2:26:00 PM
From: debra vogt	Read Replies (1) \| Respond to of 337

VISIBLE GENETICS INC. ANNOUNCES PRELIMINARY FOURTH QUARTER RESULTS TORONTO, Jan. 22 /CNW/ -- Visible Genetics Inc. (Nasdaq: VGINF) (VGI) announced today that, based on currently available information, it expects sales for the, fourth quarter ended December 31, 1997 to be approximately $1.25 million. This represents an increase from the comparable period in 1996 in which sales were $0.82 million. The Company expects sales for 1997 to be approximately $3.0 million, an increase from 1996 sales of $0.98 million. Approximately 10% of fourth quarter revenues resulted from sales of disposables and HLA kits. The sales revenue figures for the quarter and the year are consistent with expectations. (All amounts are in United States dollars.) The fourth quarter 1997 sales include direct VGI sales of 43 OpenGene Systems and 5 additional OpenGene systems shipped as part of partnership projects. In addition, VGI received orders from customers and distributors for a further 51 systems that will be shipped in the first quarter 1998. "At the end of 1997, Visible Genetics had 97 installed sites with a total of over 138 systems in the field. We are very pleased with our fourth quarter results and continued quarterly growth. Visible Genetics has worked hard in 1997 to establish itself as a leader in low cost, high speed clinical automated DNA sequencing systems," stated John K. Stevens, CEO of VGI. "We have laid a solid foundation for expansion of worldwide sales of GeneKits, other application-based products, and our clinical DNA sequencing software and hardware." The estimated sales are preliminary and are subject to change based on the review to be completed by the Company's auditors. The Company expects to issue its yearend results on or about February 26,1998. This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties including technological hurdles, market conditions and other risks detailed from time to time in the Company's SEC filings, including its prospectus dated June 18, 1996. These forward-looking statements speak only as of the date hereof. VGI disclaims any intent or obligation to update these forward-looking statements. Visible Genetics Inc. develops, manufactures and markets high performance, automated DNA sequencing systems for the analysis of genes linked to disease. The Company's OpenGene system employs stratified DNA testing and single-tube, single-step sequencing methods to significantly reduce the time and cost involved in finding and identifying disease-causing mutations. /For further information: John K. Stevens, Chairman and C.E.O. of Visibl