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Invitrogen Posts Q2 Revenue Rise, Earnings Loss

NEW YORK, July 26- Invitrogen announced a significant increase in second quarter revenues relative to the year ago period, largely due to the contribution of its newly acquired company, Life Technologies, the company announced on Thursday.

Invitrogen also posted a net loss of $35.1 million, or 67 cents per share, during this latest financial period, compared to a net income of $4.8 million in the second quarter, 2000.

Invitrogen announced second quarter revenues of $159.3 million, a 475% increase from the $27.7 million recorded last year for this period. However, the year ago period does not include contributions from Life Technologies, which Invitrogen acquired in September, 2000. Calculating the change in revenues over the past 12 months assuming the year ago period included contributions from Life Technologies, Invitrogen’s revenue increased by only 12%.

The company’s revenues stemmed largely from its Molecular Biology segment, which contributed $103.2 million during this latest quarter, most of which was generated from continuing products. 

Research and development expenses increased to $9.8 million in this latest financial period, from $3.8 million in the second quarter, 2000.

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