ABI meets reduced EPS forecasts

Applied Biosystems met its previously reduced EPS estimates, reporting fiscal fourth quarter EPS of $0.22. Fourth quarter revenues were $405.1 million, up 3.4% over the $391.8 million reported in the fourth quarter last year. Instrument sales (including software) were particularly weak, coming in at $191.4 million, down 12% from the $216.9 million in the 2000 quarter. Soft instrument sales were partially offset by strong growth in sales of consumables, which rose 26% to $158.3 million from $125.6 million in last year's quarter, reflecting continued demand for sequencing and sequence detection reagents.

For the year, ABI reported EPS of $0.96, $0.03 better than the Street's estimate of $0.93. Fiscal year revenues came in at $1.6 billion, up 17%from the $1.4 billion posted in the prior year. ...