NEW YORK (GenomeWeb News) — Thermo Electron today reported that total second-quarter revenue increased 9 percent though profits tumbled 20 percent.
Total receipts for the three months ended July 1 increased to $713 million from $654 million during the same period one year ago.
Its Life and Laboratory Sciences segment led the drive with an 11 percent increase to $539 million from $487 million in the year-ago period. Revenues from the firm’s Measurement and Control segment rose 5 percent to $174 million from $166 million in Q2 2005.
Net income for the quarter sank 20 percent to $47.9 million from $60.2 million in the year-ago quarter.
Research and development costs for the quarter dipped 3 percent to $40.6 million from $39.4 million year over year.
As of July 1, Thermo Electron had $189.7 million in cash and cash equivalents.