Newsletter

Genelabs Technologies Reports Financial Results

McClellan, Burns, Stern, Lilian S, O'Keefe, Linda

1992

Overview

Genelabs Technologies Inc. (NASDAQ:GNLB) Thursday announced its results for the fourth quarter of fiscal 1991. The company reported revenues of $1.4 million and a net loss of $3.5 million, or 20 cents per share, for the fourth quarter ended Dec. 31, 1991. These results compare with revenues of $1.4 million and a net loss of $2.2 million, or 15 cents per share, for the same period in 1990. The company also reported revenues for the year ended Dec. 31, 1991 of $4.3 million compared to $8.9 million for the previous year. The total net loss for 1991 increased to $22.9 million, or $1.40 per share, from $4.6 million or 31 cents per share in 1990. The 1991 net loss included $9.3 million non-cash charge as a result of the March 1991 acquisition of American Biotech Resources Inc. (BTR) which was acquired to enhance Genelabs' proprietary position in new diagnostic and therapeutic products. The net operating loss from recurring operations for 1999 was $15.0 million compared to $6.1 million for 1990. (excerpt)

• Publisher: Business Wire
• Subject: Biotechnology / Financial statements / Marketing / Net losses / Pacific / Pharmaceutical industry