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Stratagene s Q2 Revenues Up 26 Percent, Earnings Grow 40 Percent

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NEW YORK, Aug. 10 (GenomeWeb News) - Stratagene yesterday reported increased revenues and earnings for the second quarter of 2005.

 

Revenues for the quarter grew 26 percent to $24.9 million from $19.7 million for the year-ago period. The company saw growth across its life science and diagnostics businesses, with quantitative PCR being the fastest growing product line in life sciences.

 

R&D expenses were flat at $2.9 million, compared to $2.8 million during the year-ago period.

 

The company's net income for the quarter was $2.1 million, or $.1 per share, up 40 percent over last year's income of $1.5 million, or $.08 per share, during the same period. Net income this quarter was positivley impacted by lower interest expenses due to a reduction in outstanding debt.

 

As of June 30, Stratagene had $5.7 million in cash, cash equivalents, and marketable securities.

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