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Stratagene Posts 20-Percent Revenue Increase in Q4

NEW YORK, March 8 (GenomeWeb News) - Stratagene said today that its revenues for the fourth quarter grew 20 percent to $22.8 million, compared with $18.9 million in the fourth quarter of 2003. The company said that $5.6 million was related to Stratagene's acquisition of Hycor in June 2004.

 

The La Jolla, Calif.-based company spent approximately $2.7 million on research and development in the fourth quarter of 2004, a slight increase from the approximately $2.3 million it spent on R&D in Q4 2003.

 

Stratagene also said net income surged to $1.9 million, or $.08 per diluted share, from $237,000, or $.02 per diluted share in the year-ago period.

 

As of Dec. 31, 2004, Strategene had cash, cash equivalents, and marketable securities totaling $5.7 million, and total assets of $80.2 million.

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