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Biacore s Q4 Revenue Rose 23 Percent on US Sales Recovery

This article has been updated from a previous version to include Biacore's R&D spending and cash assets.

 

NEW YORK, Feb. 23 (GenomeWeb News) - Biacore today said that sales for the fourth quarter rose 23 percent to 193.7 million Swedish kronor ($24.6 million) from 157.1 million Swedish kronor a year ago.

 

Sales in the US rose 48 percent and European sales were up 45 percent, but receipts in Asia-Pacific declined by 20 percent.

 

Biacore posted fourth-quarter net income of 49.4 million Swedish kronor, or 5.06 Swedish kronor per share, versus 24.4 million Swedish kronor, or 2.51 Swedish kronor per share, during the same period last year.

 

R&D spending rose to 27.0 million Swedish kronor from 23.2 million Swedish kronor in the fourth quarter of 2004.

 

The company said it expects 2006 sales to increase "at approximately the same rate as in 2005 with modest growth in the first quarter."

 

As of Dec. 31, the company had 157.9 million Swedish kronor in cash and cash equivalents.

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