Agilent’s Q3 Revenues Rise 17 Percent; Net Income Up 118 Percent
Agilent Technologies this week reported a 17-percent increase in third-quarter revenues to $1.45 billion from $1.24 billion in the third quarter last year.
For the third fiscal quarter ended July 31, Agilent reported $391 million in revenues for the Bio-Analytical Measurement business, a 15-percent spike from $341 million in the same quarter last year. The company said it recorded $387 million in orders in Q3, an 11-percent increase from $348 million one year ago.
Agilent said that Life Sciences orders increased 13 percent, while Chemical Analysis orders jumped 10 percent over the year-ago period. The company said that “robust” growth in Asia and Europe was balanced by single-digit growth in the Americas due to ongoing weakness from traditional large pharmaceutical companies.
Agilent said its income from operations in the Bio-Analytical Measurement segment rose 43 percent to $60 million from $42 million in the comparable quarter a year ago.
Revenues for the firm’s Electronic Measurement segment rose 8 percent to $848 million from $783 million year over year. Income from operations for the segment grew 63 percent to $125 million from $77 million.
The company’s overall net income rose 118 percent to $227 million, or $.54 per share, from $104 million, or $.20 per share, a year ago.
Agilent spent $186 million on R&D in Q3 2006, compared with $183 million in the third quarter of 2005.
As of July 31, Agilent held $2.25 billion in cash and cash equivalents.
Fisher to Distribute Nanogen’s Real-Time PCR Products in US
Nanogen last week announced that Fisher HealthCare will exclusively distribute its MGB Alert real-time PCR products in the US.
Fisher HealthCare, a unit of Fisher Scientific International, will have exclusive rights to sell and distribute the products to clinical laboratories. The products will retain the Nanogen MGB Alert brand and Nanogen’s technical support will continue supporting them.
Customers will have access to Nanogen products through Fisher in September, said Nanogen.
A line of 12 products, the real-time PCR analyte specific reagents include reagents designed to detect sequences associated with pathogens.
Financial details were not disclosed.
Nanogen’s Q2 Revenues More Than Double, But Loss Widens
Nanogen last week said that second-quarter revenues more than doubled as a result of products gained from its acquisitions, but its net loss widened 45 percent due to integration costs.
Receipts for the second quarter more than doubled to $6.3 million from $3.1 million in the same quarter last year.
Revenue from product sales surged 273 percent to $4 million, license fees increased 12 percent to $1.8 million, and revenue from contracts and grants rose 11 percent to $481,000, Nanogen said.
The products gained from acquiring Spectral Diagnostic’s cardiac test business and Amplimedical drove the increase in product revenue, Nanogen said.
The company spent about $6.6 million on R&D in the second quarter, up 27 percent from $5.2 million in the comparable period last year.
Nanogen also said its net loss increased 45 percent to $14.1 million, or $.23 per share, from $9.7 million, or $.20 per share, in Q2 2005.
The company recorded $1.3 million in non-cash share-based compensation expenses and $2.9 million in integration expenses for Jurilab, Amplimedical and Spectral this quarter, which resulted in the higher loss for the quarter. These expenses were not included last year.
As of June 30, Nanogen had approximately $18.6 million in cash, cash equivalents, and short-term investments.
Caliper’s Q2 Revenues Rise 20 Percent as Net Loss Declines; Closes Xenogen Acquisition
Caliper Life Sciences last week said that second-quarter revenues increased 20 percent and its net loss declined 51 percent on strong contract revenues.
Receipts for the second quarter increased to $24.3 million from $20.3 million in the same quarter last year.
In segment results, revenue from product sales slipped slightly to $12.3 million from $12.4 million in the prior year. Service revenue increased 50 percent to $5.4 million, and revenue from license fees and contracts rose 54 percent to $6.6 million, Caliper said.
Explaining the results, Caliper said strong demand for its microfluidics product line kept product revenue essentially flat despite a $1.3-million decline in OEM product sales to Affymetrix. The CaliperDriven program drove license and contract revenue growth, while the increase in service revenues was due to the NovaScreen acquisition, the company said.
The company spent about $4.9 million on R&D in the second quarter, up 7 percent from $4.6 million in the comparable period last year.
Caliper’s net loss for the second quarter fell to $2.1 million, or $.06 per share, compared to a loss of $4.2 million, or $.14 per share, in Q2 2005.
Caliper expects revenues between $110 million and $118 million for the full year of 2006.
The company also said that Caliper closed its acquisition of Xenogen today. The combined company will continue to be called Caliper Life Sciences.
Xenogen recorded revenues of $11.2 million for the second quarter, said Kevin Hrusovsky, Caliper’s president and CEO, and saw a 35-percent growth in IVIS molecular imaging system sales.
As of June 30, Caliper had approximately $9.5 million in cash and cash equivalents and around $14.3 million in marketable securities.
Solexa’s Q2 Revenues Fall 21 Percent as Firm Winds Down MPSS Service
Solexa this week reported a 21-percent drop in second-quarter revenues as it started winding down its MPSS service business and shipped its first early-access DNA sequencers.
The company reported $1.1 million in revenues for the quarter ended June 30, down from $1.4 million during the same quarter a year ago. Most of the revenue came from Solexa’s MPSS service business, and the year-over-year decline was due to reducing this service, which Solexa plans to phase out by the end of the year.
Solexa's revenues do not yet include proceeds from sales of DNA sequencing instruments.
Solexa’s R&D expenses for the quarter climbed to $5.5 million, from $4.7 million during the same period a year ago. This increase was related to higher costs for personnel and material, including building and operating several prototype instruments, as well as stock-based compensation.
The company’s quarterly net loss widened slightly to $9.8 million, or $.27 per share, from $9.4 million, or $.48 per share, in the year-ago period.
As of June 30, Solexa had $58.1 million in cash and cash equivalents.