NEW YORK, July 27 (GenomeWeb News) - Applied Biosystems today reported increased revenues and earnings for its fourth quarter of fiscal year 2005, which ended June 30.
Revenues for the quarter totaled $478.5 million, up 4 percent over the prior year's revenues of $460.5 million. Broken down by ABI's five product categories, DNA sequencing revenues were $143 million, up 2 percent over last year's quarter; real-time PCR/applied genomics revenues were $140 million, up 16 percent; mass spectrometry revenues were $119 million, down 1 percent; core PCR and DNA synthesis revenues were $46 million, down 7 percent; and revenues from other product lines were $31 million, up 1 percent.
Research and development costs totaled $48.3 million, down from $51.3 million during the year-ago quarter. This decline was due primarily to savings from the integration of the MALDI-TOF product line into the ABI/MDS Sciex Instruments joint venture.
ABI's net income for the fourth fiscal quarter was $71.6 million, or $.35 per share, up from $51.1 million, or $.25 per share, for the year-ago quarter. The current quarter's income includes $21.2 million in tax benefits and reduced court settlement costs.
As of June 30, ABI had $756 million in cash resources.
In addition to reporting its earnings, the company said that its board of directors has authorized the repurchase of up to 10 percent of the outstanding shares of Applera-ABI common stock.