NEW YORK (GenomeWeb News) - Millipore yesterday said third-quarter revenues increased 12 percent as R&D spending swelled 8 percent and profit shot up nearly 150 percent.
Total receipts for the three months ended Sept. 29 increased to $371.2 million from $330.1 million year over year.
Sales in the company's Bioprocess segment rose 8 percent to $210.5 million, while Bioscience revenue rose 19 percent to $160.7 million.
“Our accelerated Bioscience revenue growth was offset by slower growth from our Bioprocess Division," said Millipore Chairman and CEO Martin Madaus. "After a strong first half of the year, some of our North American biotech customers are significantly reducing their spending in the second-half of 2007.”
Notable growth in Asia and in Europe offset the dimmed North American sales, he added.
Millipore's R&D spending increased to $26.5 million from $24.6 million year over year.
The company said profit surged to $36.3 million from $14.8 million in the year-ago period.
Millipore said it had around $24.3 million in cash and cash equivalents as of Sept. 29.