American Cytogenetics Posts Loss for Fiscal Year
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American Cytogenetics Inc., a North Hollywood-based operator of medical testing labs, posted a $935,018 loss for its fiscal year that ended Jan. 31, compared with an $828,502 loss the previous year.
The latest loss came despite a 50% increase in American Cytogenetics’ revenue, to $5.67 million from $3.77 million in fiscal 1989.
The fiscal 1990 loss included a $1.2-million loss from the sale of the company’s Diagenetics Laboratories Inc. to Odyssey Biomedical Corp. Excluding that loss, American Cytogenetics had a pretax profit from continuing operations of $270,014.
American Cytogenetics said it will now focus on its cancer-testing business through its Cancer Screening Services subsidiary.
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