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ABI Reports Increased Revenues for 4th Quarter

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NEW YORK, July 23 - Applied Biosystems of Applera this morning reported net revenues of $432.9 million for the fourth quarter ending June 30, up over $417 million for the same quarter of 2002, the Foster City, Calif.-based company said in a statement.


The company reported net income of $96.1 million for the quarter, compared to $38.2 million for the year-ago period.


The company recorded research and development charges of $58.2 million, compared to $58.0 million for the same quarter in 2002.


"In light of the challenging business environment, I am pleased that Applied Biosystems achieved solid earnings growth and strong cash flow from operations during the fourth quarter," said Michael Hunkapiller, president, ABI, said in a statement.


The company on Tuesday said that it plans to launch a whole-genome microarray product.

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