Hycor Acquisition, QPCR Sales Boost Stratagene’s Q3 Revenues
Stratagene on Tuesday reported a 37-percent increase in third-quarter revenues and nearly tripled its quarterly net income.
Stratagene’s revenues increased to $23.1 million for the quarter from $16.9 million in the third quarter of 2003. The company’s Hycor subsidiary, which it acquired in June, was responsible for $5.6 million of the increase in revenues for the quarter, Stratagene said.
The company said that sales of its quantitative PCR, mutagenesis, and allergy diagnostic products grew by 29 percent, 13 percent, and 23 percent, respectively.
Stratagene’s net income rose to $2.2 million, or $.10 per diluted share, from $608,000, or $.04 per diluted share, in the year-ago quarter. The company said that its quarterly profit included approximately $665,000 from a litigation settlement, which was offset by a 45-percent income tax rate related to the non-deductibility of start-up expenses in Japan. Excluding these factors, Stratagene said that its earnings per share for the third quarter would have been $0.09.
The company did not provide further details about the litigation settlement.
R&D spending remained flat at $2.7 million for the third quarter, compared to $2.5 million in the third quarter of 2003.
Stratagene closed the quarter with $5.1 million in cash, cash equivalents, and marketable securities, and $82.1 million in total assets.
Stratagene said it expects to post between $21 million and $22 million net income for the fourth quarter of 2004, and revenues of $95 million to $98 million for the full year of 2005.
The company plans to launch its first molecular diagnostic product based on its FullVelocity QPCR kits during the second half of 2005.
Sigma-Aldrich to Market Protein Arrays Made by Startup Procognia
Sigma-Aldrich will market human protein arrays developed by Procognia, the companies said this week.
Procognia has developed a tag technology to create arrays of biologically related human proteins that retain their native functions in the array format, the companies said. The first array will contain wild type human p53 and its germline SNP variants.
Procognia’s SNP-variant proteins will enable researchers to investigate the mechanism of cancer progression on many proteins in parallel, the company said.
Additional protein arrays, expected to launch “in the coming months,” will contain “selected sets of biologically related human proteins including collections of proteins associated with key diseases including cancer and signal transduction,” according to a statement.
Financial terms of the exclusive collaboration were not disclosed.
Separately, Sigma said it has declared a quarterly cash dividend of $.17 per share. The dividend is payable on Dec. 15 to shareholders of record on Dec. 1, 2004.
BD Bioscience Licenses Cellomics’s High-content Cell Analysis IP
Cellomics sold Becton Dickinson’s bioscience division non-exclusive, worldwide rights to its core high-content-screening patent portfolio, the firms said this week.
The license gives BD Bioscience broad claims to Cellomics’ HCS technology and “specific classes” of HCS assays, such as cytoplasm-nuclear translocation, characterization of cellular toxicity, and receptor internalization, the companies said.
BD Bioscience said the move is aimed at further positioning it into the area of high-content cellular analysis, emphasized by the company’s acquisition of Atto Bioscience in July.
The Cellomics deal was also designed to bolster BD’s capabilities in live cell research, which includes high-resolution imaging, flow cytometry, and reagent systems, Mark Lewis, vice president of BD Biosciences, said in a statement.
Financial details of the agreement were not disclosed.
PerkinElmer Inks Deal to Supply California with Spectrometry Systems
PerkinElmer said today that it has signed agreements to provide California with tandem mass spectrometry systems to support the state’s expanded newborn screening program.
According to PerkinElmer, it will provide California’s contracted newborn screening laboratories with tandem mass spectrometry systems, reagent kits, and software. Additionally, a system will be installed at California’s Genetic Disease Laboratory, which will analyze results from the screening labs and perform quality control oversight.
PerkinElmer also said it will provide the state’s contracted newborn screening laboratories with 17-OHP assay kits for the screening of congenital adrenal hyperplasia. The company expects this system will be available for sale in late 2004 or early 2005.
Additional terms of the arrangements were not disclosed.