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Millipore Posts 40-Percent Gain in Q1 Sales, Though Profits Sink 23 Percent

NEW YORK (GenomeWeb News) — Millipore yesterday said first-quarter revenues increased 39 percent as R&D spending rose 50 percent and profit slid 23 percent.
 
Total receipts for the three months ended March 31 increased to $372 million from $268.4 million year over year.
 
Sales in the company’s Bioprocess segment rose 40 percent to $214.3 million, while Bioscience revenue swelled 51 percent to $157.7 million.
 
In a statement, CEO Martin Madaus said demand was strong for its drug-related and vaccine-related consumables in the Bioprocess division, and the Bioscience division is focused on integrating Serologicals, which the company acquired last summer.
  
R&D spending increased to $27.5 million from $18.4 million year over year.
 
The company said profits fell to $26.7 million from $34.5 million in the year-ago period.
 
Millipore said it had around $56.6 million in cash and cash equivalents as of March 31.

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