GeneNews Limited Appoints Floyd C. Dent to its Board of Directors; Reports Earnings Results for the Third Quarter Ended September 30, 2013
The company reported earnings results for the third quarter ended September 30, 2013. For the quarter, the company reported net loss was approximately $3.4 million, or $0.10 loss per common share. This included approximately $1.4 million, or $0.04 per share, in charges related to the Company's previously announced strategic restructuring and approximately $310,000, or $0.01 per share, in costs associated with its share of the initial set-up costs for IDL. In last year's third quarter, net loss was approximately $1.4 million, or $0.07 loss per share. Total revenues were approximately $37,000, a decrease from approximately $158,000 for the same period in 2012. Revenues in 2013 have been negatively impacted by the sales performance of Enzo Clinical Labs Inc., GeneNews' regional marketing partner in New York and New Jersey.