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ABI Stock Climbs 7.6 Percent on Positive Q3 Earnings

NEW YORK, Oct. 25 (GenomeWeb News) - Shares in Applied Biosystems were up 7.6 percent, or $1.74, at $24.55 in mid-afternoon trading after the company announced strong third quarter results today.

 

As GenomeWeb News reported earlier this morning, ABI had a 6.4-percent increase in revenues for its fiscal first-quarter, which ended Sept. 30, and a 55-percent jump in profits. ABI credited growth in its real-time PCR/applied genomics and mass spectrometry segments to this increase.

 

Despite these results, ABI President Cathy Burzik said in a statement that "we remain cautious about the growth rates in our end-user markets throughout the remainder of the fiscal year."