Message #20 From:
NewsBot Date: November 14, 2006 05:00:00 AM
EGEI News eGene Reports a Profitable Quarter Result and Revenue Increases 273 Percent in Third Quarter 2006 Compared to Third Quarter 2005
IRVINE, Calif.--(BUSINESS WIRE)--eGene Inc. (OTCBB:EGEI),
a leading biotechnology company and developer of a compact and automated
digital genetic analyzer, announced today its results for the third
quarter ending September 30, 2006.
For the quarter, the Company increased its revenue 273 percent from one
year ago, recording sales of $834,036 versus thirds quarter sales of
$223,555 in 2005. Gross profit margin increased to 64 percent in 2006
from 52 percent in 2005.
"We had the first profitable quarter ever," said Peter Sheu, the chief
financial officer of eGene. "We have reported the net income for the
quarter ending on September 30, 2006, was $30,689, compared to the
previous year's quarterly loss of $209,783. During the third quarter of
2006, our sales increased $610,481 or 273%, from the same period in
2005. This increase in our quarterly sales reflects the continuous
product sales ramp up.”
Ming S. Liu, CEO of eGene, noted: "We are continuously penetrating the
current DNA analysis market by replacing the current labor-intensive
traditional slab gel electrophoresis method. More users, including
hospital laboratories, universities, research centers and biotech
companies have realized the benefit of using our HDA-GT12 system and are
integrating it in their routine DNA/RNA analysis work."
eGene developed the HDA-GT12(TM) (high-performance DNA analyzer for
genotyping on 12 channels). The system analyzes the genetic fingerprints
of living organisms. It performs fast DNA sample screening and
high-resolution DNA fragment analysis (2-5bp). The system also analyzes
the quality and quantity of RNA in gene expression market. The Company
sells cartridges that are specific to the type of analysis to be
performed. All data is then received in digital form for appropriate
transmission and storage.
eGene Inc. (www.egeneinc.com)
focuses its core technologies of capillary electrophoresis,
microfluidics, liquid handling and automation to develop and manufacture
low-cost microfluidic, miniaturized digital analyzer systems, software
and consumables for biological materials testing applications. These
products detect, quantify, identify and characterize biomolecules
including DNA and RNA at high rates of specificity and sensitivity while
automating routine and non-routine laboratory and industrial procedures
critical to product safety, development quality and productivity.
This press release contains forward-looking statements within the
meaning of the "safe harbor" provisions of the Private Securities
Litigation Reform Act of 1995. Such statements are made based on
management's current expectations and beliefs. Actual results may vary
from those currently anticipated based upon a number of factors. The
company undertakes no obligation to release publicly any revision, which
may be made to reflect events or circumstances after the date hereof.
