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Invitrogen Posts Near Flat Revenues for Q1

SAN FRANCISCO, April 25 - Invitrogen on Thursday posted near flat revenues for the first quarter 2002.


For the three months ended March 31, the company reported revenues of $159.9 million, compared with $160.7 million in the same period one year ago.


Invitrogen said that it had a pro forma profit, excluding merger related amortization and costs, and net of tax, of $25.1 million, or $.46 per share, for the first quarter of 2002, compared to $24 million, or $.45 per share, for the year-ago period.


Under standard rules, Invitrogen reported net income of $14.5 million, or $.27 a share, compared to a loss of $39.6 million, or $.76 a share, in the same period one year ago.


Invitrogen said it has $693.7 million in cash and cash equivalents and $148.8 million in short-term investments held-to-maturity, compared to $878.2 million and $99.6 million respectively as of December 31, 2001.


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