NEW YORK (GenomeWeb News) — Piper Jaffray yesterday downgraded shares in Applied Biosystems to “Market Perform” from “Outperform” after the company reported its fiscal fourth-quarter earnings.
As GenomeWeb News reported yesterday, ABI said that fiscal fourth-quarter revenue increased 9 percent as real-time PCR and mass spec jumped and DNA sequencing slid.
The company also said fourth-quarter income rose to $76.7 million, or $.41 per share, from $71.6 million, or $.35 per share, a year ago
According to Dow Jones, analysts polled by Thomson First Call expected the Foster City, Calif., company to post earnings, on average, of $.34 per share.