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InforMax Reports Fallen Revenues, Receded R&D, and Narrowed Loss in Q3

NEW YORK, Oct. 30 - InforMax today reported a 35-percent fall-off in revenue atop decreased R&D spending and a narrowed net loss.

 

For the period ended Sept. 30, InforMax, which two weeks ago said it will be acquired by Invitrogen, had total receipts amounted to $3 million, down from $4.7 million reported during the same quarter one year ago.

 

R&D spending, like all operating expenses, fell in the third quarter to $2 million compared with $2.5 million year over year, InforMax said.

 

Consequently, the company said third-quarter net loss narrowed to $5.2 million, or $.20 per share, from $5.4 million, or $.22 per share, during the same period one year ago.

 

InforMax said it had roughly $46.9 million in cash, cash equivalents, and investments available for sale as of Sept. 30.

 

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