NEW YORK (GenomeWeb News) — MDS today yesterday reported that third-quarter revenue for the segment comprising its MDS Sciex and Molecular Devices units increased 92 percent as organic receipts rose 11 percent and R&D spending doubled.
Total revenue for the three months ended July 31 increased to $127 million from $66 million for its MDS Analytical Technologies segment, which includes Sciex and Molecular Devices.
Molecular Devices contributed $55 million and the Sciex division added $72 million in revenue.
Much of the growth came from the Molecular Devices division, which MDS acquired in March, and the company said growth in its Sciex business was strong, particularly in the small-molecule business.
MDS did not break out its balance sheet or segment earnings for the quarter.