NEW YORK (GenomeWeb News) — Bio-Rad Laboratories today said fourth-quarter revenues increased 12 percent as R&D spending rose 20 percent and profit increased 24 percent.
Total receipts for the three months ended Dec. 31, 2006, increased to $343 million from $307 million year over year.
Revenue from the company’s Life Science division rose 13 percent to $159 million, while receipts from the Clinical Diagnostics segment increased 11 percent to $180 million.
Bio-Rad said Life Science sales were “boosted by a number of factors including significant growth in protein expression analysis, process chromatography, and amplification reagents,” and by the acquisition of Ciphergen Biosystems’ tools business last year.
Clinical Diagnostics sales were up over the entire segment, but “most notably” from blood virus products and in quality-control products.
R&D spending increased to $37.4 million from $31.1 million year over year.
The company said third-quarter profit increased to $16.6 million from $13.5 million in the year-ago period.
Bio-Rad said it had around $488 million in cash, cash equivalents, and short-term investments as of Dec. 31.