Molecular Devices Books 43-Percent Increase in Revenues, 30 Percent Rise in Earnings in Q1

NEW YORK, April 29 (GenomeWeb News) - Molecular Devices yesterday reported increased revenues and profits for the first quarter of 2005.

Revenues for the quarter were $39.1 million, up year-over-year from $27.3 million. Both the life sciences and drug discovery product areas contributed to the growth.

Research and development costs increased to $6.2 million from $4 million during the year-ago period.

The company's net income for the quarter totaled $2.2 million, or $.13 per share, up from $1.4 million, or $.10 per share, during last year's first quarter.

As of March 31, Molecular Devices had $8.3 million in cash and cash equivalents.