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Stratagene Reports Increased Revenues, Income in Q1 for Standalone Operations

NEW YORK, June 10 (GenomeWeb News) - Stratagene yesterday reported increased revenues and earnings for its stand-alone operations for the first quarter of 2004. The results do not include those of Hycor Biomedical.

 

Stratagene was privately owned until June 2, when it merged with Hycor. The first quarter financial statement does include results from BioCrest Holdings "due to common control and management." Stratagene acquired the assets of BioCrest on June 2.

 

Revenues for the first quarter increased to $19.4 million, up from $16.9 million during the same quarter last year.

 

R&D expenses decreased to $2.5 million, from $2.8 million during the year-ago period.

 

Income climbed to $2.1 million, up from $1.3 million during the same quarter in 2003.

 

As of March 31, Stratagene had $3.1 million in cash and cash equivalents.

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