Invitrogen s Q4 Revenues Grow 24 Percent as Profit Jumps 63 Percent

NEW YORK, Feb. 28 (GenomeWeb News) - Invitrogen today reported double-digit growth in revenues and profits for the fourth quarter of 2005.

Total receipts for the three months ended Dec. 31, 2005, rose 24 percent to $325.3 million from $262.2 million in the prior-year period. Acquisitions generated 17 percent of the quarterly revenue growth, Invitrogen said, while currency exchange rates had a negative impact of 4 percent on quarterly revenues, resulting in net organic growth of 11 percent for the period.

Invitrogen reported quarterly organic revenue growth of 12 percent in its BioDiscovery business unit and 8 percent organic growth in its BioProduction business.

Invitrogen's net income for the fourth quarter grew 63 percent to $49.6 million versus $30.5 million for the same quarter in 2004.  

R&D spending rose 36 percent to $27.4 million in the fourth quarter of 2005 from $20 million in the year-ago period.

Invitrogen had $751 million in cash and investments as of Dec. 31, 2005.