NEW YORK (GenomeWeb News) — Millipore yesterday said fourth-quarter revenues increased 50 percent as R&D spending rose 41 percent and profit leapt 1,700 percent.
Total receipts for the three months ended Dec. 31, 2006 increased to $383 million from $256 million year over year.
Compared with the fourth quarter of 2005, sales in the company’s Bioprocess segment was up 42 percent to $224 million, while its Bioscience segment gained 61 percent with sales of $158 million.
In a statement, CEO Martin Madaus attributed much of the growth to improved execution, BioProcess and Bioscience sales and acquisitions, including the purchase in July of Serologicals for $1.4 billion.
R&D spending increased to $23.9 million from $17 million year over year.
The company said profits increased to $18.5 million from $1 million in the year-ago period.
Millipore said it had around $77.5 million in cash and cash equivalents as of Dec. 31.