NEW YORK, Feb. 12 (GenomeWeb News) - Invitrogen reported increased earnings and revenues for the fourth quarter today.
Revenues increased to $207.8 million, from $161.8 million during the same period the previous year. Invitrogen attributed this increase in sales mainly to products it obtained from its acquisitions of Molecular Probes, Pan Vera, and InforMax.
R&D expenses soared to $16.1 million, from $9.7 million during the same quarter in 2002.
Net income for the quarter was $12.6 million, or $.24 per share, up from $10.2 million, or $.2 per share, the year before.
As of Dec. 31, 2003, Invitrogen had $998.7 million in cash and investments.