NEW YORK (GenomeWeb News) — MDS today reported that second-quarter revenue for its MDS Analytical Technologies segment, which now includes MDS Sciex and Molecular Devices, increased 54 percent, although organic growth was 5 percent.
Total revenue for the three months ended March 31 increased to $88 million from $57 million. The majority of the increase came from recently acquired Molecular Devices, which MDS bought in March for $615 million. The company also recorded $3 million in expenses from the acquisition.
R&D spending increased to $7 million from $1 million year over year.
MDS said its services revenue drove growth and profitability.