Life Science Arm Helps PerkinElmer Revs Climb 19.7 Percent in Q1
PerkinElmer said last week that its Life and Analytical Sciences business grew 19 percent during the first quarter, helping raise overall revenues 19.7 percent.
For the three months ended March 30, the company’s Life and Analytical Sciences segment posted receipts of $356.6 million, compared to $299.5 million the year before. Its Optoelectronics business grew 21.6 percent to $125.7 million from $103.3 million during the first quarter in 2007.
Company-wide, revenues climbed to $482.3 million from $402.9 million a year ago. Foreign currency contributed 6 percent to revenue growth during the quarter, the company said.
Profits rose 37.1 percent to $20.1 million in the first quarter from $14.7 million a year ago. R&D spending climbed to 4.6 percent to $29.1 million. As of March 30, PerkinElmer had $185.2 million in cash and cash equivalents.
For the second quarter, the company forecast revenues to increase in the mid- to high- teens with changes in foreign exchange and acquisition contribution about 5 percent and 10 percent, respectively, to the growth.
NanoLC Interface Available for Varian’s FTMS Under OEM Deal with Proxeon
Under an original equipment-manufacturer agreement announced this week, Proxeon’s Easy-nLC nano liquid chromatography system will be available to interface with Varian’s 920-MS triple quadrupole Fourier transform mass spectrometer.
The nanoLC will be marketed and sold as the Varian 216-LC. Terms of the deal were not disclosed.
In a statement, Märten Winge, president of Proxeon, said that the system has been optimized for use with mass spectrometry, particularly for proteomics applications.
The 216-LC uses a “spitless” design that delivers nanoliter flows to a mass spectrometer without discarding a large fraction of the solvent, resulting in more precise mixing of binary gradients, reproducible gradients, and better retention time precision, according to Varian.
Invitrogen Announces 2-for-1 Stock Split
Invitrogen’s board has approved a 2-for-1 stock split, the company said this week.
Additional shares will be distributed on May 27 to shareholders on record as of May 16.
“Today’s decision by the board of directors reflects the company’s strong financial performance and confidence in our long-term strategy,” Greg Lucier, Invitrogen’s chairman and CEO, said in a statement.
Last week, the company reported a 13.5 percent jump in revenues to $350 million.
GE Healthcare Completes Purchase of Whatman
GE Healthcare said last week it has completed its acquisition of filtration firm Whatman.
The £363 million [$721 million] acquisition was announced in February.
In a statement, GE said that the addition of Whatman’s filters and membranes “will offer substantial customer benefits and create significant synergies through complementary product and service offerings.”