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ABI Shares Up 13 Percent as Fiscal Q1 Revenue Surges

NEW YORK (GenomeWeb News) — Shares in Applied Biosystems were up 13.04 percent, or $4.40, at $37.91 in mid-afternoon trading today after the company said fiscal first quarter revenues increased 15 percent.
Separately today, investment bank UBS upgraded ABI’s stock to ‘Neutral’ from ‘Reduce.’
As GenomeWeb News reported today, ABI reported that for the three months ended Sept. 30 total sales increased to $476.3 million from $415.5 million last year
ABI said that sequencing revenue increased 5.2 percent to $131.5 million from $124.9 million in the year ago period; RT-PCR sales increased 30 percent to $158.1 million; mass spec sales increase 19 percent in the period to $116 million; core PCR and DNA synthesis declined 3 percent to $46.2 million; and “other” products increased 1 percent to $24.5 million.