NEW YORK (GenomeWeb News) — Bio-Rad Laboratories today said third-quarter revenues increased 11 percent as R&D spending rose 7 percent and profit jumped around 20 percent.
Total receipts for the three months ended Sept. 30 increased to $339.7 million from $304.8 million year over year.
Revenue from the company’s Clinical Diagnostics segment rose nearly 18 percent to $193.3 million as it experienced “strong growth across all product lines, particularly in quality control, auto-immune, diabetes, and blood virus testing products.”
Meantime, receipts from the Life Science division grew 4.1 percent to $143 million in part due to sales of its recently released ProteOn XPR36 protein interaction array system as well as the Bio-Plex suspension array systems and reagents.
R&D spending rose to $33.1 million from $31 million year over year.
Bio-Rad's profit jumped to $28 million from $23.2 million in the year-ago period.
Bio-Rad said it had around $472.8 million in cash and equivalents and $70.6 million in short-term investments as of Sept. 30.