NEW YORK, April 26 (GenomeWeb News) - Serologicals today reported that first-quarter revenues slipped 2.8 percent as R&D spending jumped 11 percent and profits nearly doubled.
Total receipts for the three months ended April 2 fell to $55 million from $56.6 million in the year-ago period.
R&D spending increased to $5 million from $4.5 million.
Profits swell to $2.8 million, or $.08 per basic share, from $1.9 million, or $.06 per basic share year over year.
Serologicals said it had around $43 million in cash and equivalents as of April 2.
As GenomeWeb News reported yesterday, the company said it will be acquired by Millipore for $1.4 billion in cash.