IVD SECTOR QUARTERLIES ROUND-UP: Spending spree puts Inverness in red for Q4
This article was originally published in Clinica
Charges resulting from a busy year of acquisition and integration activities have led to Inverness Medical Systems posting a net loss for the fourth quarter of 2007. The Waltham, Massachusetts-based diagnostics specialist recorded a deficit of $12.5m, a significant drop compared to the profit of $6m it made over the same period in 2006. Inverness' fourth-quarter net revenue rose by 83% to approximately $288m, largely helped by contributions from acquired businesses which boosted sales of the company's professional diagnostics products. This core business segment generated $234.2m in revenue ($139.3m derived from acquired product lines), a sharp rise compared to the same period in 2006, during which it made $87.2m.
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