Strong earnings for Molecular Devices

- Last updated on GMT

Related tags: Income statement

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.

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.

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