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Dionex Posts 14 Percent Jump in Q2 Revenues Behind Strong Asia-Pacific HPLC Sales

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Chromatography firm Dionex this week reported sales of $124.1 million for the second quarter of its fiscal 2011, up roughly 14 percent over $109.2 million in the same period last year.

In a statement, CEO Frank Whitney noted that HPLC sales were up 21 percent compared to the second quarter of 2010 and cited strong demand in the Asia-Pacific region – especially China – as a key driver of this growth.

Dionex is currently being acquired by Thermo Fisher Scientific, which in December announced its plans to purchase the firm, citing as one of the key rationales a desire to increase its access to the Asia-Pacific market (PM 12/17/2010). Dionex currently generates more than 35 percent of its revenues in this market, compared to 17 percent for Thermo Fisher.

Thermo expects to complete the acquisition early in the second quarter of the calendar year.

Dionex's net income for the quarter was $18.9 million, or $1.06 per share, an 11 percent jump from 16.9 million, or $0.94 per share, in the second quarter of the company's fiscal 2010.

Its R&D spending rose 22 percent to $9.4 million from $7.7 million a year ago.

As of Dec. 31, the company had $92.5 million in cash and cash equivalents.

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