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Piper Jaffray Downgrades ABI After Firm Reports Fiscal Q4 Earnings

Jul 28, 2006
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.
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