Cetus Corp. reported a net loss for the fourth quarter endedJune 30 that was double the predictions of some analysts.
But the announcement, which came late Friday, failed to moveCetus' stock (NASDAQ:CTUS), which closed unchanged Monday at$15.
For the quarter, Cetus had a net loss of $22.9 million, or 70cents a share, on revenues of $13.5 million. The Emeryville,Calif., company had a net loss of $16.5 million, or 53 cents ashare, on revenues of $12.7 million for the comparable quarterof 1990.
For the year, Cetus posted a net loss of $75.1 million, or $2.34a share, on revenues of $51.6 million. Cetus had a net loss in1990 of $61.5 million, or $2.15 a share, on revenues of $38.9million.
PaineWebber analyst Linda Miller, who had forecast a 36 cent-per-share loss for the quarter, rated the operating results "anon-event."
"This won't have an impact," she said. "Everyone assumesChiron must have been well aware of what the quarter lookedlike." Last week, Chiron Corp. announced that it will mergewith Cetus.
Cetus said the increased loss was due primarily to specialcharges totalling $19 million, of which $10 million was takenin the second quarter in connection with the purchase of thelimited partners' interests in Cetus Healthcare LimitedPartnership II in December 1990. A $9 million charge wasincurred in the fourth quarter in connection with an agreementin principle to settle a shareholder class action suit. -- KarenBernstein
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