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Strong RT-PCR, Mass Spec Sales Drive Applied Biosystems Q1 Revenue; Sequencing Declines

NEW YORK, Oct. 26 (GenomeWeb News) - Applied Biosystems today reported an increase in revenues and income for its fiscal first quarter, driven by growing sales of its real-time PCR and other applied genomics products, while DNA sequencing revenues declined.

 

Total revenues for the three months ended Sept. 30 increased to $390.3 million from $382.7 million during the same period last year. Revenues from real-time PCR and other applied genomics soared to $111.8 million, from $94.3 million last year. Mass spectrometry sales also increased, totaling $89.1 million compared to $82.4 million last year.

 

Revenues from the three other product categories declined: DNA sequencing revenues sank to $116.1 million from $124.8 million; core DNA synthesis and PCR revenues declined to $47.4 million from $51.2 million, and revenues from other product lines fell to $25.9 million from $30 million.

 

R&D spending amounted to $51.1 million for the quarter, down from $59.6 million during the year-ago period. This decrease resulted from ABI's recent alignment of its R&D product portfolio, the company said.

 

ABI's net income for the quarter was $37.1 million, or $.19 per basic share, up from $33.4 million, or $.16 per basic share, for the year-ago quarter. Part of this increase -- $800,000 -- was due to income from a patent-infringement settlement and from the termination of a joint development agreement with Illumina, partially offset by severance charges fromm staff reductions.

 

ABI did not state its assets in its quarterly financial report.

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