Gene Logic's Guidance Stumble: Playing the Blame Game? (GLGC)

Gene Logic Inc. (GLGC) announced today that revenue for its Genomics Division will be significantly lower than previously anticipated for both the second quarter and for the full year 2006. Without really getting into any substantive details, the company has also yanked their guidance.

To season the debacle, they add that Gene Logic's Senior Vice President and General Manager of Genomics has resigned for personal reasons and to pursue other career opportunities. The Company already has in place interim leadership for its Genomics Division though you may have to hunt about for the names. Basically, we have no real information on the problem.

The company further adds that an executive has fallen on his sword. Problems of this magnitude are never the fault of one individual. The real question is, will they solve problems or just get into the blame game?

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