<Page> Exhibit 1 Visible Genetics Inc. Consolidated Statements of Operations for 12 months ended June 30 2001 (United States Dollars) (Unaudited) Sales Products $ 13,271,407 Services 251,934 ------------ 13,523,341 ------------ Cost of sales Products 10,260,562 Services 247,784 ------------ 10,508,346 ------------ Gross margin 3,014,995 Expenses Sales, general and administrative 32,158,977 Research and development 11,030,330 Exit and termination costs 540,000 ------------ 43,729,307 ------------ Loss from operations before interest (40,714,312) Interest income 4,370,514 Interest and financing expense (12,237) ------------ Net loss for the period (36,356,035) ------------ Cumulative preferred dividends and accretion of discount attributable to preferred stock (3,381,168) ------------ Net loss attributable to common shareholders $ (39,737,203) ------------ Weighted average number of common shares outstanding 16,070,019 ------------ Basic and fully diluted loss per share $ (2.47) ------------