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Stratagene Posts Lackluster Q3 Revenue Growth as Profit Falls 68 Percent

NEW YORK, Nov. 9 (GenomeWeb News) - Strategene today reported a 3-percent increase in revenues, and a 68-percent decline in profits for the three months ended Sept. 30.

 

Stratagene's revenues for the third quarter rose to $23.7 million from $23.1 million in the same period a year ago.

 

Net income fell to $700,000, or $0.03 per basic share, from $ 2.2 milllion, or $0.10 per basic share in the year-ago period.

 

The company also announced a one-time cash dividend of $0.25 per common share payable Jan. 6, 2006, to stockholders who have held shares in Stratagene since Dec. 16.

 

R&D expenditures for the quarter increased by 4 percent to $2.8 million from $2.7 million in the year ago period.

 

Stratagene had approximately $9 million in cash and cash investments as of Sept. 30.

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