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Revenues Up, Earnings Down at Applied Biosystems in Q4

This story has been updated from a previous version. Click here to read the updated story.

 

NEW YORK, July 28 (GenomeWeb News) - Applied Biosystems today reported a significant drop in earnings amid increasing revenues for the fourth quarter of fiscal 2004.

 

ABI said that its net earnings for Q4 2004 were $51.1 million, or $.20 per share, versus $96.1 million, or $.46 per share in Q4 2003. Net income for the entire fiscal 2004 was $182.9 million, a slight dip from the $183.2 million reported for fiscal 2003.

 

Net revenues in the fourth quarter were $460.5 million, a six-percent increase over the $432.9 million reported in the same period last year. ABI said that Q4 2004 instrument revenues increased seven percent, to $231.2 million, and consumables revenues increased three percent to $153 million. In addition, revenues from other sources, such as service and support, royalties, licenses, and consulting increased 12 percent to $76.3 million.

 

R&D spending took a light hit, falling to $56.4 million in Q4 2004 from $58.2 million for the same quarter last year.

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