Celera Reports Preliminary Second Quarter 2009 Revenue Results

Celera has reported preliminary revenue results for the quarter ended June 27, 2009. The company expects to garner revenue for the second quarter of 2009 in the range of $40 million to $42 million. The company had reported revenue of $42.8 million in the second quarter of 2008.

Kathy Ordonez, chief executive officer of Celera, said: We believe these restructuring actions allow us to optimize our organization to best take advantage of future opportunities for growth while addressing current business conditions and reducing costs.

We are increasing resources dedicated to supporting the adoption of our differentiated, high value proprietary genetic tests, such as KIF6, that we believe present large market opportunities. Our pilot market for the StatinCheck version of KIF6 has helped us identify what we believe to be promising opportunities to work with other companies to complement our internal efforts to drive adoption and incorporation of our genetic testing into routine clinical care. We also expect to increase our genetic test menu through the launch of LPA testing at BHL during the fourth quarter, he added.

Celera expects to record significant charges in the second quarter of 2009 for bad debt expense and impairment of goodwill and intangible assets. The company expects to have 2009 revenues significantly below its present guidance for the year, and hereby withdraws its 2009 guidance.