Skip to main content
Premium Trial:

Request an Annual Quote

Invitrogen Posts Net Income in Q3 as Revenue Grows, Spending Shrinks

NEW YORK, Oct. 24 - Invitrogen today said that moderate third-quarter revenue growth atop steep cuts in operating expenses helped the company reach profitability.


For the period ended Sept. 30, Invitrogen reported revenues of $162.6 million, up from $156 million during the same period one year ago. At the same time, R&D spending for the quarter fell to $8.7 million from $9 million in the third quarter 2001 as overall operating expenses in the current quarter shrank to $74.1 million from nearly $126 million one year ago.


The company posted net income of $14.9 million, or $.28 per share, in the current third quarter compared with a net loss of $37.4 million, or $.71 per share, during the same period last year. The company stressed, however, that "the single largest factor" that contributed to the pendulum swing from net loss to net income was the "implementation of FAS No. 142, a rule under which goodwill is no longer amortized."


Invitrogen said it had roughly $626 million cash and cash equivalents as of Sept. 30.


Click here for more information.

The Scan

Two J&J Doses

Johnson & Johnson says two doses of its SARS-CoV-2 vaccine provides increased protection against symptomatic COVID-19, CNN reports.

Pfizer-BioNTech Vaccine Response in Kids

The Pfizer-BioNTech SARS-CoV-2 vaccine in a lower-dose format appears to generate an immune response among children, according to the Washington Post.

Chicken Changes to Prevent Disease

The Guardian writes that researchers are looking at gene editing chickens to help prevent future pandemics.

PNAS Papers on Siberian Dog Ancestry, Insect Reproduction, Hippocampal Neurogenesis

In PNAS this week: ancestry and admixture among Siberian dogs, hormone role in fruit fly reproduction, and more.