NEW YORK, Feb. 5 (GenomeWeb News) - ThermoElectron yesterday reported increased revenues but smaller earnings for the fourth quarter of 2003.
Thermo's fourth-quarter revenues increased to $583.4 million from $568.7 million a year ago. Its Life and Laboratory Sciences segment, which includes mass spectrometers for proteomics, had $377 million in revenues, up from $333 million in 2002.
R&D expenses decreased slightly, to $37 million, from $38.2 million during the same period last year.
The company's net income decreased to $61.9 million, or $.37 per share, compared to $87.2 million, or $.51 per share, for the year-ago period. Thermo attributed most of this decrease to discontinued operations and the sale of securities.
As of Dec. 31, Thermo had cash and cash equivalents of $303.9 million.