NEW YORK, Feb. 17 (GenomeWeb News) - Amersham posted a year-over-year increase in fourth-quarter earnings for both its Amersham Health and Amersham Bioscience business units today, as part of its preliminary results for its fiscal year ended Dec. 31, 2003.
Amersham posted total sales of £451 million ($859 million) for the fourth quarter of 2003, up from £428 million ($815 million) in 2002. For the year, the company reported total sales of £1.7 billion for 2003, up from £1.6 billion for 2002.
Revenues for the Amersham Health business unit were £254 million in the fourth quarter of 2003 and £973 for the year, up from £247 in the fourth quarter and £948 million in the full year of 2002.
Amersham Biosciences also reported an increase in sales for the quarter and the full year. Fourth-quarter 2003 sales were £196 million, compared to £181 million in the year-ago period. Full-year revenues for Amersham Biosciences were £679 million for 2003 and £670 for 2002.
Within the Amersham Biosciences business unit, Protein Separations accounted for £95 million in revenues for the fourth quarter of 2003 and £295 million for the full year, compared to £276 million for the full year of 2002. Discovery Systems accounted for £101 million in revenues in the fourth quarter and £384 million for the year, compared to £394 million for the full year of 2002.
Amersham had £35 million cash on hand and £27 million in short-term deposits and investments as of Dec. 31, 2003, compared to £33 million cash on hand and £22 million in short-term deposits and investments at the end of 2002.
The company said that its pending acquisition by GE has been cleared by US and European regulatory authorities, and should be completed by early April.