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Biacore Posts Double-Digit Growth in Q1 Revenue, Profits

NEW YORK, May 4 (GenomeWeb News) - Biacore today posted a 19-percent increase in first-quarter revenues accompanied by a 58-percent boost in net income.

 

As the Uppsala, Sweden-based company disclosed last month, sales for the quarter ended March 31 were "higher than expected," and increased to SEK 137.9 million ($18.8 million) from SEK 116.0 million ($15.8 million) in the comparable period of 2005.

 

The company attributed the revenue growth to "very strong performance in Europe and the Americas," where sales increased by 53 percent and 41 percent, respectively, offsetting a 61-percent decline in Asia-Pacific.

 

Biacore's net income for the quarter surged to SEK 18.9 million from SEK 12.0 million in the year-ago period.

 

The company's R&D spending increased to SEK 25.1 million from SEK 18.6 million in the first quarter of 2005.

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