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ABI Reports 4-Percent Revenue Growth in Fiscal Q2; RT-PCR Sales Surge as Sequencing Suffers

NEW YORK, Jan. 25 (GenomeWeb News) - Applied Biosystems reported a 4-percent increase in total revenue for its second quarter of fiscal 2006, the company said today.

 

ABI had total revenues of $481 million for the three months ended Dec. 31, 2005, compared to $463 million for same period one year ago.  The company reported solid growth in its RT-PCR and Applied Genomics unit, where revenues grew 10 percent to $147 million. Revenue for its mass spectrometry segment grew  5 percent to $119 million year over year.

 

The company's DNA-sequencing segment did not fare as well, sliding more than 1 percent to $141 million. ABI said that it expected revenue growth in the real-time PCR/applied genomics and mass spec product categories to continue, and anticipated a further decline in its DNA sequencing segment.

  

ABI also reported R&D expenses of $45 million for the quarter, a slight decrease from $47 million a year ago, a decrease ABI attributed to a realignment of its R&D investments.

 

Net income fell to $31 million from $73 million for the same period last year.

  

ABI said it expects its growth to be in the low to mid single-digits for the remainder of FY 2006.

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