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SEQUENOM Reports Second Quarter 2009 Financial Results and Highlights
Date:8/6/2009

SAN DIEGO, Aug. 6 /PRNewswire-FirstCall/ -- SEQUENOM, Inc. (Nasdaq: SQNM), today reported its financial results for the quarter ended June 30, 2009.

(Logo:http://www.newscom.com/cgi-bin/prnh/20040415/SQNMLOGO)

Second Quarter Results

  • Total revenue for the second quarter of 2009 was $9.2 million, compared with $12.8 million for the second quarter of 2008. The decrease from the comparable period last year was primarily due to softness in capital expenditure in the bioresearch market, resulting in lower sales of MassARRAY((R)) systems.
  • Cost of product and service revenue for the second quarter of 2009 was $3.1 million, compared with $5.5 million for the second quarter of 2008.
  • Gross margin for the second quarter of 2009 was 66%, compared to 57% for the second quarter of 2008 reflecting higher consumable sales as a percentage of the company's product mix. Consumables are higher margin products as compared to hardware or platform products.
  • Research and development expenses were $10.2 million for the second quarter of 2009, compared with $6.4 million for the same period in the prior year. Research and development expenses for the second quarter of 2009 reflected additional expenses associated with product development, as well as expenses associated with the company's new Clinical Laboratory Improvement Amendment (CLIA) certified laboratory, which was acquired in November 2008.
  • Selling, general and administrative expenses of $15.1 million for the second quarter of 2009 increased from $10.6 million for the second quarter of 2008 as a result of increased legal expenses, higher FAS123(R) expenses, higher facilities costs, and expen
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