Skip to main content
Premium Trial:

Request an Annual Quote

Invitrogen's Q3 Revenues Rise 11 Percent As Loss Swings to Profit

NEW YORK (GenomeWeb News) — Invitrogen late yesterday reported that third-quarter revenues rose 11 percent as R&D spending increased 9 percent and a net loss last year swung to a profit this time around.
Total receipts for the three months ended Sept. 30 rose to $315 million from $284.2 million year over year.
Sales from Invitrogen’s Biodiscovery unit swelled 10 percent to $220.4 million for the third quarter, while receipts from its Cell Culture Systems division jumped 12 percent to $94.6 million year over year.
"Our focus from here is to sustain and expand upon these results by driving further sales penetration in high-growth regions, targeted investments in breakthrough technologies, and broader implementation of our reagent productivity strategies,” Invitrogen CEO Greg Lucier said in a statement.
R&D spending increased to $28.6 million from $26.3 million year over year.
The company recorded a $31 million profit compared with a $130 million loss in the year-ago period.
Invitrogen said it had around $648.4 million in cash and equivalents and short-term investments as of Sept. 30.
The company said it expects fourth-quarter revenue growth to be in the mid-single digits.

The Scan

Genetic Risk Factors for Hypertension Can Help Identify Those at Risk for Cardiovascular Disease

Genetically predicted high blood pressure risk is also associated with increased cardiovascular disease risk, a new JAMA Cardiology study says.

Circulating Tumor DNA Linked to Post-Treatment Relapse in Breast Cancer

Post-treatment detection of circulating tumor DNA may identify breast cancer patients who are more likely to relapse, a new JCO Precision Oncology study finds.

Genetics Influence Level of Depression Tied to Trauma Exposure, Study Finds

Researchers examine the interplay of trauma, genetics, and major depressive disorder in JAMA Psychiatry.

UCLA Team Reports Cost-Effective Liquid Biopsy Approach for Cancer Detection

The researchers report in Nature Communications that their liquid biopsy approach has high specificity in detecting all- and early-stage cancers.