Nanogen (NGEN) Reports a Q3 Loss; FY Guidance Unchanged
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Nanogen, Inc. (Nasdaq: NGEN) reports a Q3 loss of $0.08 compared to a loss of $0.01 for the same period last year. Revenues for the third quarter of 2008 totaled $13.8 million, representing an increase of more than 64% from the $8.4 million reported for the same quarter in 2007.
Nanogen’s 2008 guidance is unchanged. The company expects total 2008 revenues to increase by approximately 25 percent from 2007 levels with a gross margin of approximately 60 percent. The anticipated growth in revenues, combined with improved gross margins and substantial operating expense reductions, should allow the company to continue to improve quarterly operating cash flow through the end of 2008 as measured by Modified EBITDA.
Nanogen, Inc. is a diagnostics company with the mission to make the detection, the diagnosis, and the treatment and monitoring of an individual’s health easier and faster. The Company participates in two markets.
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