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FOR IMMEDIATE RELEASE
Contact:
Jim Parina
724-935-7029
jparina@expressionanalysis.com
Expression Analysis Announces Limited 2006 First Half Financial Results
Durham, NC – August 8, 2006: Expression Analysis, Inc., a full-service microarray processing, analysis and data management organization, has announced limited financial results for the first half of 2006 today. Expression Analysis, a privately held company, felt it was in the best interests of its clients and the Company to release limited financial data in light of recent financial releases regarding the services sector.
For the first half of 2006, Expression Analysis has increased its overall revenue by just over 83% when compared to first half 2005 revenue. In addition, the company is profitable and cash flow positive, recording significant growth in all major service areas, including gene expression and genotyping microarray processing, RNA and DNA isolation and statistical services. Genotyping, primarily using the Affymetrix 500K Mapping Array Set®:, has grown to be an exciting new segment of the Company’s business in the first half of 2006. Expression Analysis has multiple service agreements in place to provide genotyping services, and has processed the 500K Mapping Array Set for major pharmaceutical companies, as well as universities and research hospitals. The Affymetrix Exon Array®: application has also added a new revenue stream to the Company’s business. Gene expression profiling revenue has grown by 30% when compared to first half 2005 with 58% of the Company’s first half gene expression revenue associated with clinical trials. The Company has built its infrastructure to facilitate use of microarray-based applications in clinical trials.
Steve McPhail, President & CEO commented, “We have focused on the developing market for use of microarray technology in clinical trials through collaborative efforts with the FDA and industry. We have developed an outstanding quality system resulting in clinical trials market leadership. Focusing on our core competencies and engaging our employees to exceed client expectations through flexibility and highly personalized services along with execution of our business plan has contributed to our financial success."
About Expression Analysis, Inc.
Expression Analysis, Inc. (http://www.expressionanalysis.com) is the industry’s leading provider of Affymetrix GeneChip®: brand microarray services for clinical trials. Specializing in gene expression, genotyping and resequencing, the Company became the first GLP compliant microarray processing laboratory in the world. The Company provides start to finish microarray contract testing offering high throughput, high quality and cost-effective results in a regulatory compliant environment to advance genomic science.
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