states
and over 35 countries worldwide. (HISAL) is a wholly owned
subsidiary of Hitachi Software Engineering
Co.4 million of
restructuring charges. In an important development, in
June Orchid Cellmark launched
the first of its entries in its expanded product
line of consumer DNA testing services - its Heritage
ID(TM) product line of
tests - which are targeted at individuals seeking to preserve their DNA
profile
for future applications and at Native Americans to assist in tribal
enrollment decisions.
About Orchid Cellmark
Orchid Cellmark is a leading provider of identity DNA testing services
for
the human identity and agriculture markets., its innovative genetic analysis
technologies
and expertise, and the world-renowned Cellmark brand that has
been associated with exceptional quality
, reliability and customer service for
nearly two decades.
All statements in this press
release that are not historical are forward-
looking statements within the meaning of Private Securities
Litigation Reform
Act of 1995, including statements regarding: Orchid Cellmark's expectation
that
it will have growth in strong second half of 2005 fueled by new consumer
service lines, expanded
marketing investments and increases in scrapie
volumes; Orchid Cellmark's belief that the implementation
of its operational
streamlining initiative will help it maintain a leadership position in the
identity
DNA testing market; Orchid Cellmark's expectation to realize the
benefits of its recent initiatives
to increase both sales and operational
efficiencies later this year and into 2006; Orchid Cellmark
's expectation to
realize stronger revenue growth and operating profitability in the balance of
2005;
Orchid Cellmark's expectation that for the full year of 2005 it will
achieve revenue growth of 15
to 20 percent over 2004 revenues; Orchid
Cellmark's expectation that the second half of 2005 will
be active in terms of
bidding for outsourced DNA testing contracts; Orchid Cellmark's belief in its
ability to secure an increasing number of forensic DNA testing contracts from
the enlarged pool
of funding; Orchid Cellmark's expectation that the release
of bids by states and municipalities will
increase substantially in the second
half of 2005; Orchid Cellmark's expectation that the remainder
of these awards
will be announced toward the end of this year and into 2006; Orchid Cellmark's
expectation
to see increasing volumes in its scrapie genotyping business in
the second half of 2005; Orchid Cellmark
's expectation that the restructuring
initiative of its U. Assays from Tm operate on the Luminex xMAP
(R) system, a
well-established bead based instrument.
alleles biostatistics
About ReliaGene Technologies Inc
.
Founded in 1990, ReliaGene Technologies Inc.com
The revenue growth for the second
quarter of 2005 was driven
by an increase in forensic, family relationship and scrapie DNA testing
services. We expect to realize stronger revenue growth and
operating profitability in the balance
of 2005, especially since we typically
experience more robust revenue in the second half of each
year, driven by
seasonally higher levels of animal testing and U.07 per share, for the second quarter
of 2005, compared to
a net loss allocable to common stockholders of $2. government, reinforcing its
position as
one of the largest providers of paternity testing services in Britain. More information
on Orchid Cellmark can be found at
http://www.07) $(0.
"Our collaboration with Genzyme Genetics
has produced one of the most
innovative and technically advanced products available in the area of
molecular diagnostics, made possible through our proprietary Tag-It(TM)
platform," said Greg Hines
, President and CEO of Tm Bioscience. The performance characteristics of
these products have
not been established
About Tm Bioscience - Putting the Human Genome to Work(TM)
Tm
Bioscience is a DNA-based diagnostics company developing a suite of
genetic tests.
It is the
genetic 'blueprint' of all life on this planet.
deoxyribonucleic felonies
NEW ORLEANS, ReliaGene Technologies, a New Orleans
based human identification testing and research laboratory, today announced an
agreement with
Hitachi Software Engineering America, Ltd.S.
For additional information regarding this announcement
, please contact:
Dave Oehler
Director of Sales and Marketing
ReliaGene Technologies
Inc., president and chief executive officer of Orchid Cellmark. Despite this timing delay,
we expect
that for the full year of 2005 we will achieve revenue growth of
15 to 20 percent over 2004 revenues
.K.
Orchid Cellmark believes that the non-GAAP financial measure "positive
operating income
, excluding restructuring charges" mentioned in the guidance
provides investors with useful information
regarding its financial condition
and results of operations because this measure reflects the ongoing
results of
its operations.com.S.
This category contains information about forensic biology;
more specifically, the genotyping or genetic typing of DNA.
abbreviation subcommittee
com . Kelly continued, "The process of closing
our Germantown facility is
proceeding according to plan, and we expect to realize the benefits of
our
recent initiatives to increase both sales and operational efficiencies later
this year and
into 2006. forensics sales. Also, it is used by Orchid Cellmark management for internal
review of
its performance.referal fingerprinting
D.
Orchid reported a net loss allocable to common stockholders of
$1. Included
in the net loss allocable to
common stockholders for the second quarter of 2004 is a loss from discontinued
operations of $0.S.Tm Bioscience reports Genzyme Genetics launch of upgraded cystic fibrosis test
Tm Bioscience's product pipeline includes tests for genetic
disorders, drug metabolism, and infectious
diseases.
referal biostatistics
5 million for the six months ended June 30, 2005, up from $15. CODIS testing and in
the U. To listen to
the live or archived webcast via the Internet, please visit the Investors
section
of the company's web site, http://www.comprehensively instigation
The first commercial product to be released under this
agreement will be
the Y-Detect screening system for the detection of male DNA in sexual assault
and
other forensic evidence samples.
"We are pleased to be working with Hitachi Software Engineering
America in
the development of Y-Detect and are looking forward to the introduction of
this proprietary
technology to forensic investigators using the FMBIO
platform," said Dr."
Total operating
expenses were $17.10 per
share, for the second quarter of 2004.
Agriculture DNA Testing
Scrapie genotyping volumes increased in the second quarter of 2005, as is
typical in this
business with its expected seasonality. ET. The webcast will be
archived for 90 days.0 million for
the full year of 2005.45)
Basic and diluted loss from
discontinued operations per share
$- $(0.
and Subsidiaries
Condensed
Consolidated Balance Sheets
June 30, 2005 and December 31, 2004
(In thousands)
(unaudited)
June 30, December 31,
Assets:
2005 2004
Current Assets
Cash and cash
equivalents $12,712 $12,112
Short-term investments
14,713 18,374
Restricted cash 251
251
Accounts receivable, net 11,715 14,099
Inventory 1,599 1,358
Prepaid and other
current assets 1,722 1,296
Total current assets
42,712 47,490
Fixed assets, net 8,831
9,977
Other assets
Goodwill 2
,716 2,789
Intangible assets, net 12,324 13,285
Restricted cash 1,736 1,736
Other assets
341 345
Total other assets
17,117 18,155
Total assets
$68,660 $75,622
Liabilities and Stockholders' Equity:
Accounts payable
$3,091 $2,603
Accrued expenses
6,565 8,504
Income taxes payable 1,813
1,982
Current portion of long-term debt 85 371
Deferred revenue 912 983
Total current
liabilities 12,466 14,443
Long-Term Liabilities
Long
-term portion of restructuring - 1,029
Other liabilities
1,900 1,900
Total long-term liabilities
1,900 2,929
Total stockholders' equity 54,294
58,250
Total Liabilities and Stockholders' Equity $68,660 $75,622
The Company's Tag-It(TM) Cystic
Fibrosis Kit is the first multiplexed human disease genotyping
test to be
cleared by the U.repeat arising
It is one additional proof of our
commitment to supporting the forensics
community by partnering with
ReliaGene," added Masakazu Kuji, COO of HISAL.reliagene.
Phone:
504-378-9633
Email: doehler@reliagene. A major development in the quarter was the
implementation
of our operational streamlining initiative that we believe will
help us maintain a leadership position
in the identity DNA testing market, as
we strive to provide the largest laboratory capacity and fastest
turnaround
times available and to serve this growing market more profitably," said
Paul J.9 million
.
Dr. Kelly added, "We are revising our 2005 revenue and gross margin
forecasts downward as
a result of the slower than anticipated release of new
National Institutes of Justice-funded bids
for outsourced forensic DNA
testing, as contract awards from states and other agencies have been
delayed
by up to six months from our original projections.
-- The company expects an average
gross margin of approximately
44 percent for the full year of 2005.
-- The company
continues to expect to achieve positive operating income,
excluding restructuring charges
, for the full year of 2005.genotyping abbreviation
With cutting-edge capabilities for forensic and
paternity DNA testing
, ReliaGene has now successfully detected human genetic
profiles from over 400,000 biological samples
, including cases from all 50 U.
HISAL was established in 1991 and maintains headquarters in San Francisco
and
offices in New York and Los Angeles. More information about Hitachi Software
Engineering America
can be found at the company's web site at
http://www.
(Nasdaq: ORCH), a leading worldwide provider
of identity DNA testing services,
today reported its financial results for the quarter and six months
ended
June 30, 2005.J.
Family Relationship DNA Testing
In Europe, Orchid Cellmark
recently won an exclusive award to provide
paternity testing services to the U.
In the forensic
community, this term generally refers to human DNA obtained from biological evidence.
subcommittee referal
, Orchid Cellmark
Inc.
Orchid reported a loss from continuing operations of $1. Consistent with these principles
, we intend to continue
providing financial guidance solely on an annual basis.0 million for the full
year of 2005.
-- The company continues to expect capital expenditures of between
$4.
and Subsidiaries
Condensed Consolidated Statements
of Operations
Three and Six months ended June 30, 2005 and June 30, 2004
(In thousands, except per share data)
(unaudited)
Three months ended Six months ended
June 30, June 30,
2005 2004 2005 2004
Revenues:
Service revenues
$15,738 $14,833 $30,227 $28,127
Other revenues 99 124
275 298
Total revenues 15,837 14,957 30,502 28,425
Operating expenses:
Cost of service revenues 9,042 8,206 18,066
16,549
Research and development 417 454 814 871
Marketing and sales 1,947 2,019 3,725 3,745
General and administrative
4,912 5,229 9,551 12,763
Restructuring 358
- 477 1,130
Amortization of intangible assets 430 452 861
904
Total operating expenses 17,106 16,360 33,494 35,962
Operating loss (1,269) (1,403) (2,992) (7,537)
Total
other income (expense), net 116 21 206 (142)
Loss from continuing
operations
before income taxes (1,153) (1,382) (2,786) (7,679)
Income tax expense 616 421 635 556
Loss from
continuing operations (1,769) (1,803) (3,421) (8,235)
Discontinued operations:
Loss from operations of a business
held for sale - (343
) - (850)
Net loss (1,769) (2,146) (3,421) (9,085
)
Dividends to Series A Preferred
Shareholders -
- - (14)
Accretion of Series A Preferred Stock
discount
- - - (1,129)
Net loss allocable to common
stockholders $(1,769) $(2,146) $(3,421) $(10,228)
Basic and
diluted loss from
continuing operations per share
allocable to common stockholders
$(0. "This
collaboration affirms that Tm is the partner of choice for the
commercialization
of genetic tests that meet the highest quality standards."
About Tag-It(TM) reagents and
genetic tests
Tm Bioscience's product menu is focused in the fields of human genetic
disorders
, pharmacogenetics and infectious disease.comprehensively biostatistics
is a leading DNA laboratory
facility specializing in human
genetic identification and related biotech
product development.8 million for the
second quarter
of 2005, compared to a loss from continuing operations of
$1.
2005 Financial Guidance
"I joined the company because of its long-term growth potential and its
solid financial position
, as well as its focus on delivering long-term value
to Orchid Cellmark stockholders," said Raymond
J. Orchid Cellmark
expects to report a loss from operations for the full year of 2005 inclusive
of the restructuring charge.K.5 million and $3.10) $(0.49)
Shares used in computing basic
and
diluted net loss per share
allocable to common stockholders 24,448 22,252
24,245 20,952
Orchid Cellmark Inc.S. Food and Drug Administration
as an in vitro device for
diagnostic use in the United States.comprehensively nonviolent
For
more information, please visit
ReliaGene's website at:
http://www.1 million for the second quarter of
2005, compared to $16.0
million. Land, senior vice president
and chief financial officer of Orchid Cellmark, who joined the
company on
June 6, 2005. The non-GAAP financial measure's most comparable
GAAP financial measure
is the operating loss adjusted to exclude restructuring
charges. 14 - Tm Bioscience Corporation
(Toronto, Ontario; TSX: TMC), a leader in the commercial genetic testing
market, today announced
that Genzyme Genetics, a leading provider of high
quality, complex diagnostic testing services, launched
its upgraded CFplus(TM)
cystic fibrosis (CF) mutation analysis which now includes testing for 97
mutations.
DNA is an abbreviation of DeoxyriboNucleic Acid.
instigation dolan
- Achieves Record
Second Quarter Revenues -
- Expects Growth in Strong Second Half of 2005 to be Fueled by New Consumer
Service Lines, Expanded Marketing Investments
and Increases
in Scrapie Volumes -
PRINCETON, N.4 million for the six months ended
June 30, 2004.S.
4 million for depreciation and amortization.8 million, or $0. We expect the second half of 2005 to be
active in terms of bidding for these contracts supported by the record level
of federal and state
funding available for DNA forensic testing, and we remain
confident in our ability to secure an increasing
number of forensic DNA
testing contracts from this enlarged funding pool. Sales
of Orchid Cellmark
's consumer identity testing services, which include
individual identity testing for paternity and
other family relationships as
well as for security purposes, have been growing rapidly, reflecting
greater
and more effective marketing investments.0 million and $5. forensic DNA testing operations
will be completed by
the end of the third quarter of 2005; Orchid Cellmark's intention to manage
the business to deliver strong annual revenue growth and achieve consistent
operating profitability
, with vigilance in focusing on those procedures,
processes and activities that add value to the company;
Orchid Cellmark's
expectation of achieving total revenues of between $72 million and $75 million
for the full year of 2005; Orchid Cellmark's expectation of achieving an
average gross margin
of approximately 44 percent for the full year of 2005;
Orchid Cellmark's expectation of incurring
total general and administrative,
sales and marketing and research and development expenses of approximately
$30 million for the full year of 2005; Orchid Cellmark's expectation of
incurring restructuring
charges of between $2.0 million for
the full year of 2005; Orchid Cellmark's expectation of achieving
positive
operating income, excluding restructuring charges, for the full year of 2005;
and Orchid
Cellmark's expectation of incurring capital expenditures of between
$4.14) $(0.obtained felonies
com .Orchid Cellmark
Reports Second Quarter 2005 Financial Results
The loss from continuing
operations before income
taxes was $1.02 per share.S.
forensic DNA testing operations to support the company's continued leadership
in this sector by consolidating its production capacity while maintaining
scalability. Orchid
Cellmark's strong market positions in these segments reflect the company's
accredited laboratories
in the U.repeat referal
4 million for the second quarter of 2004, which also includes
charges of $1. Analytical
and performance characteristics
are not established.dna referal
hitachi-soft.J. While the release of
bids
by states and municipalities for outsourced forensic DNA testing under fiscal
year 2004 National
Institutes of Justice (NIJ) funding experienced a slow
start in the first half of 2005, we expect
the release of these bids to
increase substantially in the second half of 2005. Orchid Cellmark
expects to see increasing volumes in its scrapie genotyping business in the
second half of 2005
.
-- The company continues to expect restructuring charges of between
$2.0 million
for the full year of 2005. In the human identity area, the
company provides DNA testing services
for forensic, family relationship and
security applications.com.0 million and $5. These risks and
other additional factors affecting Orchid
Cellmark's business are discussed under the headings "Risks
Related to Our
Business" and "Risks Associated with Our Common Stock" in Orchid Cellmark's
Annual
Report on Form 10-K for the year ended December 31, 2004, as filed with
the Securities and Exchange
Commission, and in other filings made by Orchid
Cellmark with the Securities and Exchange Commission
from time to time.
DNA typing is often applied to Human Identification
which
has also been called DNA Fingerprinting.
genotyping instigation
Ltd.8 million for the second quarter of 2005 and
$30. Kelly
, M.S. This represents a decrease
from prior guidance of approximately 47 percent. This
represents a decrease
from prior guidance of $31 million to $33 million.5 million and $3
.
Conference Call Information
A conference call with Orchid management will be held
on Thursday,
July 28, 2005 at 10:00 a. Combined, the Universal Array and
Luminex instrument enable
the rapid production of flexible, high-throughput,
low-cost DNA-based tests.alleles forensics
"
Orchid Cellmark
provided the following financial guidance for the full
year of 2005:
-- The company expects
total revenues of between $72 million and
$75 million for the full year of 2005. To listen
to the conference call, please dial
1-651-224-7472 and ask for the Orchid Cellmark Conference Call
. In the agriculture field, Orchid Cellmark provides DNA
testing services for food safety and selective
trait breeding. All genetic tests from Tm Bioscience are
based on the Tag-It(TM) Universal Array
platform, which utilizes a proprietary
universal tag system that allows for easy optimization, product
development
and expansion.
(xx) For Investigational Use Only.com.biostatistics nonviolent
"This
working relationship
with HISAL will allow us to expand our market presence in
the forensics community.
About
Hitachi Software Engineering America, Ltd. government forensic and paternity markets,
launched several
innovative new consumer service lines and ramped up our sales
and marketing infrastructure.K. I
believe this
general policy is good for stockholders since it avoids the potential for
distorted
incentives inherent in any quarterly guidance policy, and it also is
aligned with the annual nature
of key drivers of Orchid Cellmark's financial
performance, including the awarding of forensic and
other contracts the timing
of which can vary throughout the year. The above non-GAAP financial measure
is not intended to supercede or
replace Orchid Cellmark's GAAP results or expectations.02) $-
$(0.
The TSX Exchange has not reviewed and does not accept responsibility for
the adequacy or accuracy of this release.nonviolent repeat
ReliaGene's Y-PLEX(TM) genotyping
systems, first released
in 2000, have been sold in over 40 countries.
Total revenues were $15.0 million
for the second
quarter of 2004 and $28. The company continues to anticipate
that this restructuring initiative
will be completed by the end of the third
quarter of 2005. This represents a decrease
from prior guidance of $75 million to $78 million.m.04)
Basic and diluted net loss per share
allocable to common stockholders $(0. New assay tests for 97 mutations and incorporates
Tm Bioscience
technology
TSX: TMC
TORONTO, Sept.tmbioscience.obtained comprehensively
Release
of the Y-Detect
screening system is expected in the fourth quarter of this year. Total
operating
expenses for the second quarter of 2005 included $0.4 million, and the short and long-term portion of
restricted cash was
approximately $2.
-- The company expects total general and administrative
, sales and
marketing and research and development expenses of approximately
$30 million for the full year of 2005.orchid. Such statements are
subject to the risks and uncertainties
that could cause actual results to
differ materially from those projected, including, but not limited
to,
uncertainties relating to technologies, product development, manufacturing,
market acceptance
, cost and pricing of Orchid Cellmark products and services,
dependence on government funding and
collaborations, regulatory approvals,
competition, intellectual property of others, patent protection
and
litigation.
Orchid Cellmark expressly disclaims any obligation or undertaking to release
publicly
any updates or revisions to any forward-looking statements contained
herein to reflect any change
in Orchid Cellmark's expectations with regard
thereto or any change in events, conditions, or circumstances
on which any
such statements are based, except as may be required by law.
Orchid Cellmark Inc. Additional information about Tm Bioscience can be found
at
http://www.repeat obtained
"
"We are excited to see the development of new innovative kits from
ReliaGene
run on our FMBIO platform. Founded in 1971, Hitachi
Software Engineering is a global supplier of
solutions-oriented IT products
and services, employing over 8,000 people worldwide and enhancing
customer
businesses through value-added professional services, consulting and support.
At
June 30, 2005, cash and cash equivalents and short-term investments
were $27. Cash used in operations
was $1.9 million in the
second quarter of 2005, primarily attributable to the early surrender of
a
lease in Princeton, N.S.orchid.08) $(0. Genzyme Genetics' new CFplus(TM) assay incorporates technology
from
Tm Bioscience which was developed in a collaborative effort.There may however be cases where
DNA from other sources is under examination.
referal genotyping
ReliaGene Technologies Signs R+D Agreement With Hitachi
Software Engineering
This proprietary ReliaGene DNA-based
screening method is expected to provide
increased accuracy and sensitivity
over present screening methods, which are based on protein markers
and
microscopic examination of evidence material., one of Japan's premier
software and professional
service companies.
"We delivered a solid performance in the second quarter and first half of
2005, as we continued to grow revenues, increased our already strong success
rate in winning bids
in the U.2 million for the second quarter of
2005, which includes charges of $1. The amount of fiscal
year 2004 NIJ funding more than
doubles the amount available for DNA testing in the prior fiscal
year.
Operational Streamlining Initiative
In April 2005, Orchid Cellmark announced
a streamlining of its U. The company is consolidating all of its forensic DNA testing at
its Dallas
, TX, and Nashville, TN, sites and is closing its forensic DNA
testing laboratory in Germantown, MD
. "We intend to manage the business to deliver strong annual
revenue growth and achieve consistent
operating profitability, with vigilance
in focusing on those procedures, processes and activities
that add value to
our company.07) $(0.14) $(0.referal howstuffworks
Hitachi Software Engineering America Ltd
.8 million for the second quarter of 2004.4 million for depreciation and
amortization, as compared
to a loss from continuing operations before income
taxes of $1.1 million, or $0. In addition, cash
used for capital expenditures
totaled $0. A small number of awards
under fiscal year 2004 NIJ
funding have been announced so far this year and we
expect the remainder of these awards to be announced
towards the end of this
year and into 2006.
(x) Analyte Specific Reagent.arising dna
(HISAL) for
the
development of human identification kits on HISAL's FMBIO(R) fluorescence
imaging platform
. Leonard Klevan, CEO of ReliaGene Technologies.
Dr.4 million for the second quarter of 2004.
"
Forensic DNA Testing
Orchid Cellmark entered into additional contracts and continued
to see
increased volumes in forensic DNA testing in the second quarter of 2005,
particularly in
U. and U. The Company has
commercialized Analyte Specific Reagents(x) and a series of Tag-It(TM)
tests(xx) for a variety of genetic disorders. Tm Bioscience is located
in Toronto, Ontario.codis abbreviation
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