US company Molecular Devices, a supplier of bioanalytical measurement systems, announced its revenues and earnings for the quarter and year ended 31 December, 2002. Revenues for the fourth quarter of 2002 were a healthy $30.2 million, or an increase of 19 per cent compared to the same period last year.
Revenues for the full year were $102.2 million, or an increase of 11 per cent over 2001 revenues. Fully diluted earnings per share increased 42 per cent to $0.17 for the quarter, versus $0.12 reported in the quarter ended 31 December, 2001.
"We are pleased that we were able to deliver our best quarter in two years," said Joseph Keegan, president and chief executive officer of Molecular Devices'. "For the first time ever, revenues exceeded $30 million in a quarter and $100 million in a year. We capitalised on the successful third quarter introduction of the IonWorks HT and continued our commitment to innovation by introducing eight new assay kits during the quarter," he added.
The company anticipates revenues of $24 to $26 million and fully diluted EPS of $0.04 to $0.06 for the first quarter of 2003.