Applied Biosystems.Applied Biosystems reported first quarter FY2003 revenues of $395.9 million, an 8.0% increase from the same quarter a year ago. Increased revenues were driven by a 16% rise in Instrument sales and a 24% rise in revenues from Other sources, which are service contracts, royalties, licenses, and contract research. Operating income Operating Income The profit realized from a business' own operations. Notes: This would not include income from things such as investments in other firms. Also referred to as operating profit or recurring profit. for the first quarter only gained 0.5% to $43.3 million due to litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. charges to discontinued operations Discontinued operations Divisions of a business that have been sold or written off and that no longer are maintained by the business. . Without the litigation charges, the company witnessed a 6% increased in operating profit Operating profit (or loss) Revenue from a firm's regular activities less costs and expenses and before income deductions. operating profit See operating income. from continuing operations continuing operations Parts of a business that are expected to be maintained as an ongoing segment of an overall business operation. Income and losses from continuing operations are reported separately if any segments have been discontinued during the . Consumables sales fell 7% for the first quarter FY2003, due to lower sales of sequencing reagents, which is a trend the company expects to continue into this fiscal year, but to taper off as the year progresses. DNA sequencing revenue as a whole dropped 1% to $149.3 million. Sequence Detection Systems and other Applied Genomics product sales, on the other hand, increased 21% year over year to $83.5 million. But the fastest growing product segment was Mass Spectrometry, where sales grew 54% to $83.4 million. The company expects Mass Spec growth in 2003 to be higher than its overall growth. Core DNA Synthesis and PCR PCR polymerase chain reaction. PCR abbr. polymerase chain reaction Polymerase chain reaction (PCR) revenues dropped 17% to $49 million, while "Other" product lines showed a sales decline of 10% to $30.7 million. The company reported firm spending by government and academic R&D customers, except in Japan. But R&D spending by commercial end-users, primarily pharma and biotech, were mixed, with biotech spending weakening. Regionally, the US accounted for 54% of revenues, with sales up 13%. European sales increased 2%, and represented 24% of company sales, and sales in Asia remained relatively flat, accounting for 19% of revenues. Sales to the rest of the world increased 25% from a year ago. Applied Biosystems reiterated in its conference call that it expects FY2003 revenue growth to be in the high single-digit to low-teens range. Growth will be heavily influenced by the acceptance of new products. R&D is expected to grow at a decreasing percentage of revenues and result in 14% of revenues for FY2003. Diluted EPS (Encapsulated PostScript) A PostScript file format used to transfer a graphic image between applications and platforms. EPS files contain PostScript code as well as an optional preview image in TIFF, WMF, PICT or EPSI, the latter being an ASCII-only format. for 2003 are anticipated to be $0.85-$0.95. Gross margin is expected to remain flat.
First Quarter Ended September 30th
2002 2001 %
($USD M) 1Q 1Q chg.
Rev. 395.9 366.6 8.0%
Op. Profit 43.3 43.1 0.5%
|
|
||||||||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion