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Buoyed by CAT Payment, Stratagene Says Q4 Revenue Surged 153 Percent; Profit Grew 18 Percent

NEW YORK, March 8 (GenomeWeb News) - Stratagene yesterday reported a 153-percent surge in revenues and an 18-percent increase in profit for the fourth quarter.

 

Stratagene's revenues for the three months ended Dec.31, 2005, jumped to $57.1 million from $22.6 million year over year. The company said that driving the results was a one-time receipt of $34.1 million from Cambridge Antibody Technology as part of Abbott Laboratories' Humira drug developemt.

 

Excluding this one-time revenue item, Stratagene said that fourth-quarter revenue increased 2.1 percent to $23 million.

 

R&D expenses increased 43 percent to $3.9 million for the fourth quarter from $2.7 million for the same period in 2004, Stratagene said. It attributed the rise to additional investments in the development of biology-focused pathway-analysis software.

 

The company's net income grew to $2 million from $1.7 million in the year-ago period.

 

Stratagene had approximately $35 million in cash and cash equivalents as of Dec. 31.

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