NEW YORK, Oct. 29 (GenomeWeb News) - PerkinElmer said today that increasing revenues in its Life and Analytical Sciences division offset lower biopharma receipts and helped the company post a 10-percent jump in third-quarter revenue.
Total receipts for the period ended Sept. 30 increased to $403 million from $366 million one year ago. Revenue from the company's Life and Analytical Sciences division, which offers products for genetic screening, service, and environment, grew 4 percent, to $243.7 million from $235.1 million.
PerkinElmer's life and analytical sciences business reported revenues of $244 million for the period, up from $235 million for the third quarter in 2003.
Research and development expenses were $21 million for the period, up from $20 million for the same quarter in 2003.
Net income during the quarter surged to $24 million, or $. 19 per share, from $14 million, or $.11 per share, in the year-ago quarter.
The company reported cash and cash equivalents of $220 million on hand at the end of the quarter.