Shares of Applied Biosystems Group (ABI) were climbing higher Wednesday, after the life sciences technology company posted fiscal first-quarter results that showed a loss from a one-time charge.
For the first quarter of fiscal 2007, Applied Biosystems posted a net loss of $58.7 million, or 32 cents a share, compared to net income of $43.1 million, or 21 cents a share, in the prior-year quarter. The Foster City, Calif., company chalked up the loss to a non-recurring charge of $114.3 million, or 63 cents a share, related to its acquisition of Agencourt Personal Genomics.
Excluding the items, earnings per share were 29 cents, up from the 23 cents it reported in the prior-year quarter. Analysts, on average, were expecting earnings of 25 cents a share, according to Thomson First Call.
Applied Biosystems reported revenue of $476.3 million for the first quarter of fiscal 2007, up from the prior-year quarter revenue of $415.5 million. The most recent revenue number included a 4% favorable impact related to its acquisition of the research products division of Ambion. Analysts were looking for $450.2 million in revenue.Applied Biosystems is a unit of Applera Corp., along with Celera Genomics (CRA), a diagnostics maker. Shares of Applied Biosystems were up $4.44, or 13.3%, at $37.95 in recent trading Wednesday.