REGENSBURG, GERMANY--(Marketwire - November 10, 2010) -
Geneart AG /
GENEART AG: Preliminary Group Results (IFRS) for QIII/2010
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* Continued stable development during the third quarter 2010
* Slightly positive operating results after nine months
* Validation of the annual prognosis 2010
GENEART AG increased its net Group sales by
13.1% during the first nine months of 2010 and thus continued its
stable
development of the previous quarters. Nine-month net sales increased
from EUR
12.4M to EUR 14.0M. The third quarter 2010 ended with net sales of EUR
5.0M.
This is an increase of 16.2% over the previous year's reference period,
when EUR
4.3M were generated.
Operating performance remained largely unaffected by Applied
Biosystems
Deutschland GmbH's takeover. Applied Biosystems Deutschland GmbH is an
indirect
subsidiary of Life Technologies Corporation.
GENEART showed positive results after nine months. The preliminary
operating
result (EBIT in accordance with IFRS) totalled EUR 227 thousand compared
to EUR
51 thousand in the prior year. The development of earnings
progressed as
expected. GENEART generated an EBIT of EUR 135 thousand (prior year:
EUR 25
thousand) at Group level during the third quarter 2010.
The IFRS results of the first six months were affected by a
one-time
extraordinary item of EUR 408 thousand relating to the exercise of
GENEART
employee options with respect to the majority acquisition of GENEART
AG by
Applied Biosystems Deutschland GmbH. Adjusted for this extraordinary
item, the
preliminary EBIT of GENEART AG totals EUR 635 thousand after nine months.
The prognosis for the fiscal year 2010 remains valid. GENEART expects net
sales
in the range of EUR 19.5M, and an EBIT (in accordance with IFRS) of
approx. EUR
0.5M.
Legal Information:
This document may contain estimates, prognoses and opinions about company
plans
and objectives, products or services, future results, opinions about
these
results or opinions leading up to these results. All these projections
into the
future are subject to risk, uncertainty and unforeseeable change
outside the
control of the GENEART Group. Many factors may lead to actual results,
which
considerably deviate from the given projections for these results.
About GENEART AG:
In 2000 GENEART entered the Gene Synthesis market and has since
become the
global market leader. Today, the company is one of the leading
specialists in
the Synthetic Biology field. Experts at GENEART provide key technologies
for the
development and production of new therapeutics and vaccines. Customers also
take
advantage of GENEART services to customize enzyme attributes, such
as the
attributes of enzymes used as detergent additives, and to construct
bacteria,
which produce complex biopolymers or break down polymers, such as
synthetics,
petroleum components, etc. GENEART's service portfolio ranges from
the
optimization and production of synthetic genes according to DIN EN
ISO
9001:2008, to the generation of gene variants or complex gene libraries
and the
production of cell lines, to the development and production of DNA and
protein
based drug candidates. GENEART AG in Regensburg and its subsidiaries
GENEART
Inc. in Toronto (Canada) and GENEART Inc. in San Francisco (USA) employ
about
180 people. The company is listed on the German Stock Exchange since May
2006.
Since April 2010, U.S.-based Life Technologies Corporation, one of the
leading
biotechnology companies worldwide with 2009 revenues of USD 3.3B and
about
9,000 employees, is the majority shareholder of GENEART AG.
[HUG#1460847]
--- End of Message ---
Geneart AG
Josef-Engert-Str.11 Regensburg Germany
Listed: Freiverkehr in Börse Stuttgart,
Freiverkehr in Börse Berlin,
Freiverkehr in Börse Düsseldorf,
Open Market (Freiverkehr) in Frankfurter Wertpapierbörse;
GENEART AG: Preliminary Group Results (IFRS) for QIII/2010:
http://hugin.info/136633/R/1460847/399937.pdf
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Source: Geneart AG via Thomson Reuters ONE
