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ABI 3Q Revenues Hold, Net Income Falls

NEW YORK, April 23 --  Applied Biosystems Group today reported a slight increase in net revenues for the third quarter of fiscal 2003 while net income fell and research and development costs increased.

 

The Foster City, Calif.-based subsidiary of Applera had net revenues of $40.1 million for the quarter, compared to $49.1 million for the same quarter last year, while net revenues were $409.4 million, compared to $408.0 million for 2002. It reported R&D expenses of $60 million, compared to $56.6 million for the year-ago quarter.

 

Looking forward, the company described its customers' purchasing patterns as "cautious" and declined to provide guidance on revenues for the fourth quarter.
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