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Bio-Rad s Q1 Revenues Rise, Income Drops

NEW YORK, May 7 (GenomeWeb News) - Bio-Rad yesterday reported increased revenues but a drop in income for the first quarter of 2004.

 

Bio-Rad's revenues increased 8.4 percent year-over-year to $266.6 million in the quarter, from $246 million in the comparable quarter of 2003.

 

Net income for the quarter decreased to $22 million, or $.86 per share, from $26.4 million, or $1.04 per share in the year-ago period.

 

R&D expenses rose to $25.2 million, from $21.4 million a year ago.

 

As of March 31, 2004, Bio-Rad had $141.5 million in cash and cash equivalents.

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