Out of Sequence

Feb 01 2002

Applied Biosystems' unexpected last-quarter drop in earnings and revenues, which caused its stock to tumble, were due to an 80% drop in revenues from sales of its high-end sequencing system, and market uncertainty due to a longer-than-usual delay in setting the 2002 NIH budget. But most troubling was the company's comment that "We are just not able to forecast the way we used to." What is certain, however, is that the drop in sequencer sales shows that most of the largest genome centers and commercial genomics companies have adequate sequencing capacity for their near-term needs as they shift from Big Biology whole genome sequencing to Small Biology genome analysis applications.

The downturn in revenues and earnings reported for the end of 2001 by the Applied Biosystems Group (ABI) of Applera Corp. , surprising as it was given the company's more bullish guidance for growth three months earlier, has more to do with a change in the industry than events at ABI, according to Applera chairman Tony White.

White attributed the one-cent drop in ABI's earnings for its second quarter, ended December 31, 2001, and a $4.8 million...

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