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ABI's Fiscal Q2 Revs Grow 10 Percent Led by RT-PCR, Mass Specs; Sequencing Grew 4 Percent

NEW YORK (GenomeWeb News) — Applied Biosystems today said fiscal second-quarter 2007 revenues increased 10 percent as R&D spending rose 13 percent and profit increased 142 percent.
 
Total receipts for the three months ended Dec. 31, 2006, increased to $530 million from $482 million year over year. 
 
ABI said that sequencing revenue increased 4 percent to $146.8 million; RT-PCR sales increased 18 percent to $172.6 million; mass spec sales increase 14 percent to $135.9 million; core PCR and DNA synthesis increased 3 percent to $49.2 million; while “other” products declined 7 percent $25.5 million.
 
R&D spending in the quarter increased to $50.9 million from $45.2 million year over year.
 
ABI said fiscal second-quarter profit swelled to $74.8 million from $30.9 profit in the year-ago period.
 
Looking at full fiscal year 2007, the company said it expects “singe-digit to low double-digit” revenue growth, including growth in its DNA sequencing, PCR, and mass spec product lines. It also said it expects sales in core PCR, DNA synthesis, and “other” product lines to decline during the fiscal year.
 
ABI said its performance in 2007 will be affected by new product launches, R&D spending, pricing, the integration of Ambion-related products, and the “outcome of pending litigation matters.”
 
ABI did not disclose its balance sheet for the period.

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