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Source BioScience's Q3 Revenues Increase 33 Percent

NEW YORK (GenomeWeb News) – Source BioScience today said that it third-quarter revenues grew 33 percent over the corresponding period for 2007.
 
The life sciences products and services firm said that excluding the contribution from Autogen Bioclear, which it acquired for up to £5.9 million ($8.9 million) during the first half of 2008, its revenues were up 11 percent year over year. The company said that life science research revenues from gene sequencing, genotyping, and genomic reagents were up 12 percent.
 
The Nottingham, UK-based firm did not provide the actual revenue figures for the quarter, as it is not required to do so by the London Stock Exchange, on which it trades. It also did not report its profit or loss for the period.
 
Source BioScience noted that it spent £500,000 during the quarter on Illumina next-generation DNA sequencing and genotyping platforms.
 
The firm finished the quarter with £7.4 million in cash.
 
“During this third quarter, we have focused on the operational and commercial integration of the Autogen Bioclear acquisition,” Source BioScience Managing Director Nick Ash said in a statement. “We have also invested in new IT infrastructure to support our life science research products business, which is now scalable to support the planned expansion of our antibody and genomic reagents catalogue.”

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