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Molecular Devices Q4 Revenues Grow 43 Percent to $47.5M

NEW YORK, Feb. 11 (GenomeWeb News) - Molecular Devices yesterday reported total revenues of $47.5 million for the fourth quarter ending Dec. 31, a 43-percent improvement over $33 million in revenues that the company posted for same quarter last year.

 

The company reported a one-time restructuring charge of $1.2 million for the acquisition of Axon Instruments and had net income of $14.6 million, compared to $3 million a year ago.

 

Molecular Devices' R&D spending increased 52 percent to $7 million in the quarter from $4.6 million in Q4 2003.

 

The Sunnyvale, Calif.-based company reported cash and cash equivalents of $30 million on the quarter and a non-operating gain of $18.3 million from the sale of company in which it had an equity investment.

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